Integrate Tether, Ton mobile app for USDT-to-fiat transactions
By integrating Oobit's mobile payment app, transactions from Tether's USDT and XAUt on the Open Network (TON) will be integrated, providing a more convenient user experience for merchants.
Tether (USDT) and Tether Gold (XAUt) launched in April. XAUt is tied to the price of one fine troy ounce of gold. More than $200 million USD has been released on the ton, and users can send USDT via Telegram. Telegram has more than 900 million users worldwide. Ton will issue its own native TonCoin (Ton) on the Ton network.
In addition to TON, USDT is issued on 14 other blockchains, including Tron and Ethereum. He also joined the Cello Network in March.
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Oobit's Tap & Pay technology allows merchants to accept payment in fiat currency even when the customer pays in USDT. In a statement to Cointelegraph, Tether CEO Paolo Arduino said:
“Together, we will provide banking solutions to the unbanked population and make it easier and more convenient for users to interact with cryptocurrencies.”
Tether was among the investors who raised $25 million in Oobit's Series A funding round in February. Solana was also wealthy. Obit CEO Amram Adar emphasized the inclusive nature of the partnership with Tether and Ton. he said:
“We're not just offering another payment option; we're offering non-bank access to the most popular cryptocurrencies and international payments using Oobit.”
Oobit released its first crypto-to-fiat mobile app in April 2022 and introduced its Tap & Pay feature in September 2023. Tap & Pay uses Near Field Communication (NFC) technology. In March, Oobit integrated VeChain's VET coin.
Tether is expanding on many fronts. At the beginning of May, CityPay.io increased its investment in the payment provider in Georgia, which plans to expand to Armenia, Azerbaijan, Kazakhstan and Uzbekistan. Tether made its first investment in CityPay.io in May 2023.
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