Tether and TON partner with Oobit for USDT-to-Fiat transactions via a mobile app
2 min readTether Operations Limited, the largest company in the digital asset ecosystem, announced a strategic partnership with Oobit, a mobile payment app, and the TON Foundation on May 16. The partnership comes after Tether launched USDT and XAU t on The Open Network (TON) in April.
Tether and the TON Foundation partner with Oobit to revolutionize crypto payments for merchants
Earlier in February, Tether participated in Oobit’s Series A funding round, which raised $25 million. Oobit CEO Amram Adar highlighted the inclusive nature of the partnership.
According to Thursday’s announcement, the partnership will improve the user experience when transacting with digital assets USDT and Tether Gold (XAUt) on The Open Network (TON). By integrating Oobit’s mobile payment app, Tether will provide merchants with a more seamless and convenient way to process cryptocurrency payments.
Oobit’s Tap & Pay feature allows merchants to receive fiat currency even when payment is made in USDT. The integration will expand the practical use of cryptocurrencies and make them a widely accepted payment option.
In early February, Tether participated in Oobit’s Series A funding round, which raised 25 million USD. Amram Adar, CEO of Oobit, emphasized the inclusive nature of the partnership.
“We are not just offering another payment option, but enabling non-banked people to access the most popular cryptocurrencies and global payments through Oobit,” said Adar.
Peer-to-peer payments on Telegram with USDT integration
The TON blockchain, integrated with Telegram, enables a simple, borderless experience for peer-to-peer payments. Since the integration, over 200 million USD worth of USDT has been issued on the TON blockchain, which users can send via direct message on Telegram and use on Oobit for instant crypto tap payments. USDT is also available on 14 other blockchains, including Tron and Ethereum, and joined the Celo network in March. Tether CEO Paolo Ardoino expressed excitement about the collaboration.
“Together, we will provide banking solutions for the unbanked and revolutionize the way users transact with cryptocurrencies by making it easier and more convenient,” said Ardoino.
Earlier this month, Tether officially announced another investment in CityPay.io, a platform that allows users to pay with cryptocurrencies like Bitcoin at various stores such as Wendy’s and Radisson Hotels. Tether also plans to expand to Armenia, Azerbaijan, Kazakhstan and Uzbekistan.
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