Tether and Ton Join Forces With New Mobile App
17 May, 2024 ● Tin tức Crypto
The integration of the Oobit mobile payment app will enhance the efficiency of transactions involving Tether’s USDT and XAUt on The Open Network (TON), providing a more seamless experience for merchants.
Tether and Tether Gold (XAUt) were launched on TON in April. XAUt is tied to the value of one fine troy ounce of gold. TON has seen more than $200 million in USDT issued, with the capability for users to send USDT via Telegram messages.
Telegram boasts a user base of over 900 million globally. TON also supports its native currency, Toncoin (TON), on its network.
USDT is also issued across 14 other blockchains, including notable ones like Tron and Ethereum, and it expanded to the Celo network as of March.
Oobit’s Tap & Pay technology facilitates transactions where merchants can receive payments in fiat currencies, even when customers pay using USDT. Tether CEO Paolo Ardoino commented on the collaboration, saying:
“Together, we will provide banking solutions to the unbanked population and revolutionize how users transact with cryptocurrencies, making it easier and more convenient."
Tether participated in the Series A funding round for Oobit in February, which raised $25 million, with Solana also contributing as an investor.
Oobit CEO Amram Adar highlighted the inclusive nature of their partnership with Tether and TON:
“We’re not just providing another payment option; we’re providing unbanked access to the most prominent cryptocurrencies and worldwide payments using Oobit.”
Oobit launched its inaugural crypto-to-fiat mobile application in April 2022 and introduced its Tap & Pay feature, which utilizes Near Field Communication (NFC) technology, in September 2023.
In March, Oobit integrated VeChain’s VET coin into its platform.
Tether is making strides on multiple fronts. Earlier in May, it augmented its investment in the Georgian payment provider CityPay.io, which has plans to expand into Armenia, Azerbaijan, Kazakhstan, and Uzbekistan. Tether initially invested in CityPay.io in May 2023.
Sources:
https://cointelegraph.com/news/streamlined-usdt-xaut-transactions-ton-oobit
