As a researcher with a background in blockchain technology and digital payments, I’m excited about the latest development between Tether (USDT), The Open Network (TON), and Oobit’s mobile payment app. Having closely followed the cryptocurrency space, I can see how this partnership will bring significant improvements to transactions involving USDT and XAUt on TON.
Merchants using Tether’s USDT and XAUt on The Open Network (TON) will benefit from a smoother transaction process with the integration of the Oobit mobile payment application. This simplification enhances the user experience for both parties involved in the transactions.
As a TON network analyst, I’m excited to share that in April, Tether (USDT) and Tether Gold (XAUt) were introduced on our dynamic TON blockchain. XAUt is designed to mirror the value of one fine troy ounce of gold. With over $200 million worth of USDT already issued on TON, users can now effortlessly send this stablecoin through Telegram messages. It’s noteworthy that Telegram boasts an impressive user base of over 900 million people worldwide. Moreover, TON also generates its native cryptocurrency, Toncoin (TON), within our network.
As a blockchain analysis specialist, I’d put it this way: Besides being traded on the TON blockchain, USDT, the stablecoin, is also issued across 14 other platforms. Among these are Tron and Ethereum networks. In March, USDT made its entry into the Celo network as well.
As a crypto investor, I’m excited about Oobit’s innovative Tap & Pay technology that enables merchants to accept fiat payments even if their customers pay with USDT. According to Tether CEO Paolo Ardoino in a statement to CryptoMoon, this game-changing solution will bridge the gap between stablecoins and traditional currencies, making transactions smoother for both parties.
“Together, we will provide banking solutions to the unbanked population and revolutionize how users transact with cryptocurrencies, making it easier and more convenient.”
In February, Tether joined Solana as investors in Oobit’s Series A funding round, which successfully secured a total investment of $25 million. The CEO of Oobit, Amram Adar, highlighted the collaborative aspect of this alliance between Oobit, Tether, and the TON ecosystem.
“We’re not just providing another payment option; we’re providing unbanked access to the most prominent cryptocurrencies and worldwide payments using Oobit.”
In the spring of 2022, Oobit unveiled its inaugural crypto-to-fiat mobile application, complete with the Tap & Pay feature introduced in September 2023. This innovative functionality utilizes Near Field Communication (NFC) technology for seamless transactions. Around the mid-year mark of 2023, Oobit incorporated VeChain’s VET digital coin into its platform.
Tether is broadening its horizons in various aspects. In May’s early days, it amplified its financial commitment towards payment service provider CityPay.io situated in Georgia. This venture aims to extend its reach to Armenia, Azerbaijan, Kazakhstan, and Uzbekistan. Tether initiated its investment in CityPay.io back in May 2023.
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2024-05-16 16:18