Tether Operations Limited announces its collaboration with Oobit and the TON Foundation. Together, the partnership seeks to expand the use of cryptocurrencies as a means of payment. This collaboration wil enable millions of users to use crypto for payments easily.
Recently, over $200 million worth of USDT was issued on the TON blockchain to expand its reach to users. Users can now send USDT as a direct message on Telegram and utilize the same USDT for instant crypto Tap payments on Oobit.
Tether is a prominent player in the cryptocurrency space, known for the largest stablecoins – USDT. A stablecoin is a type of cryptocurrency that is pegged to a stable asset, often a fiat currency like the US dollar, to minimise price volatility.
USDT is one of the most widely used stablecoins in the market. Each USDT token is designed to maintain a 1:1 peg with the US dollar, providing stability and predictability to users in the volatile cryptocurrency market.
The TON Foundation is a non-profit organization established in Switzerland in 2023, dedicated to empowering projects within the TON ecosystem without controlling the TON technology.
Oobit is a mobile payment app that simplifies cryptocurrency transactions, enabling users to easily buy, sell, and exchange various cryptocurrencies on their mobile devices. In addition to this, Oobit is committed to offering banking solutions to the unbanked population.
Through this partnership, the trio will provide users with a straightforward Web3 on- and off-ramp experience.
Per Tether’s CEO, the partnership will transform how users transact with cryptocurrencies, making it easier and more convenient.
“We are excited to collaborate with Oobit and the TON Foundation to expand Tether’s utility and promote the adoption of cryptocurrency payments. This collaboration underscores our commitment to driving innovation and accessibility in this space. Together, we will provide banking solutions to the unbanked population and revolutionize how users transact with cryptocurrencies, making it easier and more convenient.”
In other news, Telegram Open Network (TON) launches Memelandia, a dedicated cultural hub to support memecoins and community coins.
Oobit’s CEO, Amram Adar, emphasized that they are not just offering another payment option. Instead, they are granting unbanked individuals access to leading cryptocurrencies and enabling global payments through Oobit.
“At Oobit, we’re driven by a mission to empower individuals to harness the full potential of digital assets. Our collaboration with the TON Foundation and Tether exemplifies this commitment. We’re not just providing another payment option; we’re providing unbanked access to the most prominent cryptocurrencies and worldwide payments using Oobit,”
The head of business development at the TON Foundation highlighted that the partnership will improve the accessibility and usability of cryptocurrency. Through its integration with Oobit’s Tap and Pay feature, millions of users can enjoy a simple on-and-off-ramp experience.
“We are celebrating this collaboration with Oobit and Tether to enhance the TON ecosystem. This integration is making cryptocurrency accessible and easy to use. By integrating Toncoin into Oobit’s Tap & Pay feature, millions of users may enjoy a simple Web3 on- and off-ramp experience. Together, we’re accelerating toward our vision of putting crypto in every pocket and driving mass adoption globally.” – said Victor Mendes, Head of Business Development at Wallet.
