Tether Operations Limited, the largest entity in the digital asset ecosystem, has announced a strategic partnership with Oobit, a mobile payment app, and the TON Foundation. This partnership was made after Tether launched USDT and XAUt on The Open Network (TON) in April. The collaboration aims to enhance the user experience for transactions with digital assets USDT and Tether Gold (XAUt) on TON. By incorporating the Oobit mobile payment app, Tether plans to provide merchants with a more convenient way to handle cryptocurrency payments, making them a widely accepted payment option.
Oobit’s Tap & Pay feature allows merchants to receive fiat currency even if the payment is made in USDT, expanding the practical use of cryptocurrencies. Earlier in February, Tether participated in Oobit’s Series A funding round, which raised $25 million. Oobit CEO Amram Adar emphasized the inclusive nature of the partnership, stating that they are not just providing another payment option but also offering unbanked access to prominent cryptocurrencies and worldwide payments using Oobit. This partnership aims to revolutionize crypto payments for merchants, providing a more seamless and convenient payment solution.
The partnership between Tether, TON Foundation, and Oobit enables peer-to-peer payments on Telegram with USDT integration. The TON blockchain, integrated with Telegram, offers a simple and borderless experience for peer-to-peer payments, improving user experience and expanding access to decentralized services. Since the integration, over $200 million worth of USDT has been issued on TON’s blockchain, enabling users to send USDT via direct messages on Telegram and use it for instant crypto Tap payments on Oobit. USDT is also available on 14 other blockchains, including Tron and Ethereum, and Tether has joined the Celo network in March.
Tether CEO, Paolo Ardoino, expressed enthusiasm about the collaboration, stating that together they will provide banking solutions to the unbanked population and revolutionize how users transact with cryptocurrencies, making it easier and more convenient. Earlier this month, Tether announced additional investment into CityPay.io, a platform enabling users to make payments at various establishments using cryptocurrencies like Bitcoin. Tether plans to expand its services to Armenia, Azerbaijan, Kazakhstan, and Uzbekistan to provide a more inclusive and accessible payment solution for users around the world.
In conclusion, the partnership between Tether, TON Foundation, and Oobit aims to revolutionize crypto payments for merchants by providing a seamless and convenient payment solution using digital assets such as USDT and Tether Gold (XAUt) on The Open Network (TON). The integration of Oobit’s mobile payment app expands the practical use of cryptocurrencies, making them a widely accepted payment option. The collaboration also enables peer-to-peer payments on Telegram with USDT integration, offering a simple and borderless experience for users. Tether continues to invest in platforms like CityPay.io to expand its services and provide banking solutions to the unbanked population globally.
