May 16, 2024
Latest Cryptocurrency News

Oobit Streamlines Transactions with Tether’s USDT and XAUt on TON

In a bid to enhance the efficiency and convenience of cryptocurrency transactions on The Open Network (TON), Tether and Tether Gold (XAUt) are integrating the Oobit mobile payment app. This strategic move aims to simplify transactions for merchants, providing them with a seamless user experience.

Enhanced Integration with Oobit

Since the launch of Tether and Tether Gold on TON in April, the platform has seen significant traction, with more than $200 million in USDT issued. Leveraging Telegram’s extensive user base of over 900 million users worldwide, TON enables users to send USDT in Telegram messages.

Additionally, TON issues its native Toncoin (TON) on the network. Tether’s presence extends beyond TON, with USDT being issued on 14 other blockchains, including Tron and Ethereum, and joining the Celo network in March.

Empowering Merchants with Tap & Pay Technology

Oobit’s Tap & Pay technology is set to revolutionize how merchants accept cryptocurrency payments. With this technology, merchants can seamlessly receive payments in fiat currency, even when customers pay in USDT.

Paolo Ardoino, CEO of Tether, emphasized the significance of this collaboration, stating:

“Together, we will provide banking solutions to the unbanked population and revolutionize how users transact with cryptocurrencies, making it easier and more convenient.”

Expanding Opportunities for the Unbanked

Moreover, Oobit CEO Amram Adar also highlighted the inclusive nature of the partnership.

“We’re not just providing another payment option; we’re providing unbanked access to the most prominent cryptocurrencies and worldwide payments using Oobit.”

Statement from Amram Adar, CEO of Oobit

Furthermore, this collaboration follows Tether’s investment in Oobit’s Series A funding round in February. It raised $25 million, with Solana also participating.

Meanwhile, Tether continues to expand its investments. Its recent increase in investment in payment provider in Georgia signifies its commitment to advancing cryptocurrency adoption globally. With plans to expand to Armenia, Azerbaijan, Kazakhstan, and Uzbekistan, Tether is at the forefront of revolutionizing the financial landscape, empowering users worldwide with accessible and efficient financial solutions.

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