Tether and the TON Foundation have joined forces with Oobit, a mobile payment app, to revolutionize crypto payments for merchants. This strategic partnership aims to enhance the user experience for transactions involving Tether’s digital assets, USDT and Tether Gold (XAUt), on The Open Network (TON). By integrating the Oobit mobile payment app, Tether aims to provide merchants with a seamless and convenient way to handle cryptocurrency payments.
Oobit’s Tap & Pay feature enables merchants to receive fiat currency even if the payment is made in USDT. This integration is set to expand the practical use of cryptocurrencies, making them a widely accepted payment option. Tether previously participated in Oobit’s Series A funding round, raising $25 million in February. Oobit CEO Amram Adar emphasized the inclusive nature of the partnership, stating that they are not just providing another payment option but also offering unbanked access to prominent cryptocurrencies and worldwide payments.
The TON blockchain, integrated with Telegram, facilitates a simple and borderless experience for peer-to-peer payments, resulting in increased access to decentralized services and an improved user experience. Since the integration, over $200 million worth of USDT has been issued on TON’s blockchain, allowing users to send USDT via direct messages on Telegram and utilize it for instant crypto Tap payments on Oobit. Additionally, USDT is available on 14 other blockchains, including Tron and Ethereum, and joined the Celo network in March.
Tether’s CEO, Paolo Ardoino, expressed excitement about the collaboration, stating that together they will provide banking solutions to the unbanked population and revolutionize how users transact with cryptocurrencies, making it easier and more convenient. In addition to the partnership with Oobit, Tether recently announced additional investment into CityPay.io, a platform that enables users to make payments using cryptocurrencies like Bitcoin at various establishments, including Wendy’s and Radisson Hotels. Tether plans to expand its services to Armenia, Azerbaijan, Kazakhstan, and Uzbekistan.
