- On May 16, Oobit, a mobile payment app, and the TON Foundation established a strategic agreement with Tether Operations Limited, the major player in the digital asset ecosystem.
- Following Tether’s April launch of USDT and XAUt on The Open Network (TON), the cooperation was announced.
Tether and TON Foundation Collaborate with Oobit to Transform Cryptocurrency Payments for Retailers
The agreement, which was announced on Thursday, is expected to improve the user experience for transactions using its digital assets, Tether Gold (XAUt) and USDT, on The Open Network (TON). Tether will enable retailers a more easy and convenient way to manage cryptocurrency payments by integrating the Oobit mobile payment app.
Even when a payment is made in USDT, shops can still accept fiat money thanks to Oobit’s Tap & Pay feature. By integrating them, cryptocurrencies will become a more frequently used and recognized form of payment.
Tether took part in Oobit’s $25 million Series A financing round earlier in February. Amram Adar, CEO of Oobit, emphasized how comprehensive the collaboration is.
According to Adar, Oobit offers unbanked access to the most well-known cryptocurrencies and allows for international payments. It offers more than just an additional payment alternative.
Peer-to-Peer Transfers with USDT Integration on Telegram
When used with Telegram, the TON blockchain makes peer-to-peer payments easy and international. Consequently, a greater proportion of the populace has access to decentralized services, resulting in enhanced consumer satisfaction.
Since the integration, TON’s blockchain has issued over $200 million worth of USDT, allowing users to send USDT over Telegram direct chats and use it for instantaneous cryptocurrency Tap payments on Oobit.
USDT joined the Celo network in March and is accessible on 14 other blockchains, including Ethereum and Tron.
Paolo Ardoino, CEO of Tether, was excited about the partnership.
Together, we will transform the way people transact with cryptocurrencies and offer financial solutions to the unbanked population, making it more comfortable and easy, added Ardoino.
Tether formally revealed more funding for CityPay.io earlier this month. This platform lets customers pay using cryptocurrencies like Bitcoin at a number of places, such Wendy’s and Radisson Hotels. It also intends to grow into Uzbekistan, Kazakhstan, Armenia, and Azerbaijan.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
