With TON Partner and Oobit for USDT to Fiat transactions via mobile app

Tether Operations Limited, the largest company in the digital asset ecosystem, announced a strategic partnership with mobile payment application Oobit and the TON Foundation on May 16.

The partnership comes after Tether launched USDT and XAUt on the Open Network (TON) in April.

Tether, along with TON Foundation, partners with Oobit to transform crypto payments for merchants

As announced on Thursday, the partnership will improve the user experience of USDT and Tether Gold (XAUt) digital assets on the Open Network (TON). Tether integrates Oobit’s mobile payment app, providing an easy and convenient way to pay merchants.

Oobit’s Tap and Pay feature allows merchants to accept fiat currency even if the payment is in USDT. The integration aims to expand the practical use of cryptocurrencies and make it a more reliable payment method.

In early February, Tether participated in Oobit’s Series A financing round, raising $25 million. Oobit CEO Amram Adar explained the nature of the partnership.

“We do not offer any other payment methods; Using Oobit, we provide banks with access to the most popular cryptocurrencies and payments worldwide,” said Adar.

Peer-to-Peer Telegram with USDT integration

The TON channel, connected to Telegram, facilitates a seamless, peer-to-peer payment experience. This leads to a larger percentage of the population having decentralized services and user experiences.

Since the integration, more than $200 million USDT has been spent on TON’s blockchain; This allowed users to send USDT via direct messages on Telegram and use it to pay directly for Click to Oobit.

USDT is also available on 14 other blockchains, including Tron and Ethereum, and joined the Celo network in March.

Tether CEO Paolo Ardoino expressed his excitement about the partnership.
“Together we will provide banking solutions for the unbanked community and make it easier and more convenient for users to interact with cryptocurrencies,” said
Ardoino.

Earlier this month, Tether officially announced an additional investment in CityPay. io is a platform that allows users to pay using cryptocurrencies such as Bitcoin at various establishments, including Wendy’s and Radisson hotels. It also plans to expand to Armenia, Azerbaijan, Kazakhstan and Uzbekistan.