Tether, TON Foundation, and Oobit Unveil Revolutionary Crypto-Payment Solution

In a landmark collaboration, Tether Operations Limited has teamed up with Oobit and the TON Foundation to pioneer a groundbreaking crypto-payment solution. This partnership aims to redefine the use of cryptocurrencies for transactions. Together, they will offer users a seamless and convenient method to engage in financial activities. Tether has announced this partnership on its official X account and blog.

Tether Collaborates with @ton_blockchain and @oobit To Create Seamless Crypto-Payment Solution
Read more: https://t.co/Qaf6gTPhK9 pic.twitter.com/A9A3P6L5He

— Tether (@Tether_to) May 16, 2024

Tether’s Borderless Finance Initiative and USD₮ Integration

This strategic alliance reaffirms Tether’s steadfast commitment to fostering a borderless financial ecosystem through decentralized technology solutions. As part of this initiative, Tether recently introduced USD₮ and XAU₮ on the TON blockchain, enabling effortless transfers between users within TON’s ecosystem. This move facilitates swift, secure, and cost-effective transactions.

Since the introduction of USD₮ on TON’s blockchain, over $200M worth of the stablecoin has been issued. Notably, users can now send USD₮ directly through Telegram messages and utilize the same USD₮ for instant crypto Tap payments on Oobit.

Oobit, renowned for its user-friendly crypto Tap & Pay experience, plays a crucial role in this collaboration by ensuring merchants receive fiat currency, even for payments made in USD₮. This integration further expands the utility of cryptocurrencies as a practical and widely accepted payment option.

Tether and Oobit’s CEOs Vision for Crypto Adoption

Paolo Ardoino, CEO of Tether, expressed excitement about the collaboration. He emphasized its potential to drive cryptocurrency adoption and revolutionize payment solutions. He also stated that they will provide banking solutions to the unbanked population and revolutionize how users transact with cryptocurrencies. Amram Adar, CEO of Oobit, also highlighted the collaboration’s significance in providing unbanked access to prominent cryptocurrencies and enabling worldwide payments.

TON, the decentralized alternative to the conventional internet powered by blockchain technology, serves as a cornerstone of this collaboration. With the TON blockchain seamlessly integrated with Telegram, users can potentially enjoy a simple, borderless experience for peer-to-peer payments.

With a focus on expanding USD₮ accessibility and facilitating smooth value transfer within TON’s ecosystem, Tether continues to lead the charge in transforming the cryptocurrency landscape and disrupting the traditional financial system.