TON Taps Tether-backed Oobit for ‘Instant Crypto Tap’ Payments
- TON, Tether, and Oobit have announced a new partnership.
- The partnership aims to drive crypto innovation and adoption.
- It comes after Tether launched its stablecoin on TON in April.
The TON Foundation has joined forces with USDT issuer Tether and mobile payment app Oobit to “revolutionize” the use of crypto in everyday transactions.
The partnership comes after Tether launched its dollar-pegged stablecoin and Tether Gold (XAU₮), a gold-backed digital token, on The Open Network (TON) in April, solidifying its presence across 15 blockchains.
Shaping the Future of Crypto Payments
According to a press release dated May 16, the three companies have partnered to shape the future of crypto payments by enabling a seamless, convenient, and practical way to transact on the go.
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As part of the collaboration, Oobit will offer a “smooth Tap Pay crypto experience,” allowing merchants to receive fiat currency even if the payment is made in USDT.
“This integration will further expand the use of cryptocurrency as a means of payment, making it a practical and widely accepted option,” the statement read.Commenting on the collaboration, Tether CEO Paolo Ardoino noted that it expanded USDT’s utility and underscored the company’s commitment to driving innovation and accessibility in the crypto industry.
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Victor Mendes, the head of Business Development at Wallet, also lauded the collaboration, noting that Oobit’s Tap Pay feature would allow millions of users to enjoy a simple Web3 on- and off-ramp experience.
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Stay updated on Tether’s latest $200M investment:
Tether Pumps $200M Into Biotech Firm as ‘Tether Evo’ Takes Off
Read about Circle’s plan to shift its legal base to the U.S.:
USDC Issuer Circle Eyes Setting up Shop in US Ahead of IPO
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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