- Filipino citizens can now pay their social security system contributions using cryptocurrency.
- This development involves the use of USDT on the TON blockchain and is facilitated by a UQUID card.
- Tether and UQUID recently launched the “1 USDT store,” aiming to integrate crypto into everyday transactions more seamlessly.
This article explores the new initiative allowing Filipinos to make social security payments with USDT, highlighting the partnership between Tether and UQUID.
Tether Enables Social Security Payments with Crypto for Filipinos
Tether, the issuer of the stablecoin USDT, has announced a groundbreaking service for the citizens of the Philippines. They can now settle their social security contributions using USDT on the TON blockchain. This service comes through collaboration with UQUID and its card system, which promises to simplify the payment process into seven straightforward steps.
Integration of USDT in Daily Transactions
UQUID describes itself as a “Web 3 e-commerce platform,” and it is living up to this promise by integrating cryptocurrency into essential transactions such as social security payments. Last week, Tether and UQUID introduced the “1 USDT store,” an online retailer developed for seamless crypto shopping. This venture signals a significant evolution in bringing more extensive use cases for cryptocurrencies, moving them closer to mainstream acceptance.
Quotes from Key Executives
Tether CEO Paolo Ardoino expressed enthusiasm about the collaboration with UQUID, stating, “We are ecstatic to partner with UQUID to modernize the crypto shopping experience. In previous years, users could only dream of limitless cross-border payment solutions that are both reliable and unrestricted. Now, we are in an era where such dreams are becoming reality, and we take pride in being a significant part of this transformation. With the launch of the 1 USDT store, both users and merchants can engage in a new age of convenient, transparent, and rewarding digital transactions.”
Tran Hung, CEO of UQUID, shared similar sentiments: “The launch of the 1 USDT Store is a monumental step in our efforts to close the gap between digital currencies and everyday transactions, making crypto micropayments more practical.”
Conclusion
This new initiative by Tether and UQUID marks a significant milestone in the adoption of cryptocurrency for everyday transactions. By enabling USDT payments for social security contributions, they are paving the way for more widespread use of digital currencies in practical applications. For the citizens of the Philippines, this development provides a more flexible and modern way of handling essential payments, while also propelling the country’s financial infrastructure into the future. Such initiatives will likely continue to flourish, providing more significant opportunities and conveniences for both users and businesses alike.
