- Tether, the largest stablecoin company, announces a new partnership with mobile payment app Oobit and the TON Foundation.
- The collaboration aims to revolutionize the cryptocurrency payments sector by providing users with a seamless and simple money transfer method.
- As part of the partnership, Tether recently launched its stablecoins USD₮ and XAU₮ on the TON Blockchain.
Tether partners with Oobit and TON Foundation to revolutionize cryptocurrency payments, launching its stablecoins USD₮ and XAU₮ on the TON Blockchain.
Tether, Oobit, and TON Foundation Announce Partnership
Tether, the world’s largest stablecoin company, has announced a new partnership with mobile payment application Oobit and the TON Foundation. This collaboration aims to provide users with a seamless and straightforward money transfer method, with the potential to revolutionize the cryptocurrency payments sector. This initiative reflects Tether’s goal of creating an unlimited financial system using decentralized technology.
Launch of Stablecoins on TON Blockchain
As part of this partnership, Tether recently introduced its stablecoins USD₮ and XAU₮ on the TON Blockchain. This move will facilitate transfers among TON ecosystem members, ensuring a fast, secure, and affordable transaction process. Following the launch, over $200 million USD₮ was issued on the TON Blockchain. This innovation allows users to send USD₮ via Telegram and use it instantly for crypto Tap payments on Oobit, thereby strengthening Tether’s position in the digital asset market.
Oobit’s Role in Crypto Tap & Pay
Oobit provides a quick and easy Tap & Pay crypto experience. The app guarantees traders receive fiat currency, even if payments are made in USD₮. This integration will increase the practical use of cryptocurrency as a payment method, making crypto a valid and widely accepted option. Oobit CEO Amram Adar emphasized the company’s aim to enable people to fully utilize digital assets and highlighted how the partnership allows unbanked individuals to access popular cryptocurrencies and global payments via Oobit.
TON’s Role in Decentralized Payments
The TON Foundation, a non-profit organization promoting the decentralized replacement of the traditional internet via Blockchain technology, also plays a significant role in this collaboration. TON Blockchain’s alliance with Telegram will allow the use of USD₮ and soon XAU₮ on TON, providing Telegram’s user base with a simple, unlimited service for P2P payments. This will lead to a higher percentage of the population having access to decentralized services, thereby improving the user experience.
Conclusion
The partnership between Tether, Oobit, and the TON Foundation marks a significant step towards revolutionizing the cryptocurrency payments sector. By introducing stablecoins on the TON Blockchain and integrating with Oobit’s Tap & Pay feature, the collaboration aims to provide a seamless money transfer method and increase the practical use of cryptocurrency. However, the impact of this development on the price of altcoin TON remains to be seen.
