Transactions with USDT and XAUt from Tether on the Open Network (TON) will be simplified thanks to the merger

Transactions with USDT and XAUt from Tether on the Open Network (TON) will be simplified through the integration of the Oobit mobile payment app, providing merchants with a more convenient user experience.

Tether (USDT) and Tether Gold (XAUt) launched on TON in April. XAUt is linked to the price of a troy ounce of gold. Over $200 million worth of USDT has been issued on TON, and users can send USDT in Telegram messages. Telegram has over 900 million users worldwide. TON also issues its native Toncoin (TON) on the TON network.

In addition to TON, USDT is issued on 14 other blockchains, including Tron and Ethereum. She also joined the Celo network in March.

Related: New Telegram mini apps will be so convenient, users won’t know it’s a cryptocurrency

Oobit’s Tap & Pay technology will allow merchants to receive payments in fiat currency even when a customer pays in USDT. In a statement provided to Cointelegraph, Paolo Ardoino, CEO of Tether, said:

“Together we will provide banking solutions for the unbanked and revolutionize the way users transact with cryptocurrencies, making them easier and more convenient.”

Tether was among the investors in Oobit’s Series A funding round in February, which raised $25 million. Solana was also an investor. Amram Adar, CEO of Oobit, also highlighted the global nature of the partnership with Tether and TON. he said:

“We’re not just offering another payment option; We provide non-bank access to major cryptocurrencies and global payments with Oobit.

Oobit launched its first mobile application to convert cryptocurrencies to fiat currencies in April 2022 and introduced Tap & Pay functionality in September 2023. Tap & Pay uses near field communication (NFC) technology. In March, Oobit integrated the VeChain VET token.

Source: Obituary

Tether is growing on several fronts. Earlier in May, it increased its investment in Georgia-based payments provider, which plans to expand to Armenia, Azerbaijan, Kazakhstan and Uzbekistan. Tether made its first investment in in May 2023.

Magazine: Is measuring blockchain transactions per second (TPS) stupid in 2024? Excellent questions

Leave a Reply

Your email address will not be published. Required fields are marked *