Oobit Integration Simplifies Tether and XAUt Transactions on TON, Enhancing Merchant User Experience

The integration of the Oobit mobile payment app with TON enhances merchants' user experience for Tether (USDT) and XAUt transactions. The app's Tap & Pay technology allows merchants to receive payments in fiat currency, regardless of whether customers pay in USDT. This collaboration provides access to prominent cryptocurrencies and global payments to unbanked individuals.

Tether and XAUt Transactions on TON Streamlined with Oobit Integration: Enhancing Merchant User Experience

The integration of the Oobit mobile payment app with The Open Network (TON) promises to revolutionize the way merchants transact with Tether's USDT and XAUt stablecoins. This integration will significantly streamline transactions, providing a seamless and convenient user experience.

USDT and XAUt on TON: A Growing Ecosystem

Since their launch on TON in April 2023, Tether and XAUt have gained significant traction. USDT transactions have exceeded $200 million on the network, leveraging Telegram's vast user base of over 900 million globally. XAUt, pegged to the price of one fine troy ounce of gold, provides users with a reliable hedge against inflation.

Enhanced Merchant Capabilities with Oobit

Oobit's Tap & Pay technology enables merchants to receive payments in fiat currency, even when customers pay with USDT. This feature removes the complexities associated with cryptocurrency transactions, ensuring merchants can seamlessly accept digital assets.

"Together, we will provide banking solutions to the unbanked population and revolutionize how users transact with cryptocurrencies, making it easier and more convenient," said Paolo Ardoino, CEO of Tether.

Inclusive Partnership with Tether and TON

Amram Adar, CEO of Oobit, emphasized 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 has been actively expanding its crypto ecosystem. In April 2022, the company launched its first crypto-to-fiat mobile app, followed by the introduction of its innovative Tap & Pay feature in September 2023. Oobit also integrated VeChain's VET coin in March 2023.

Tether's Expanding Global Footprint

Tether continues to extend its reach globally. Earlier this month, the company increased its investment in CityPay.io, a payment provider in Georgia, with plans to expand services to Armenia, Azerbaijan, Kazakhstan, and Uzbekistan. Tether's initial investment in CityPay.io was made in May 2023.

The integration of Oobit with TON represents a significant step forward in the adoption of cryptocurrencies for everyday transactions. By streamlining USDT and XAUt transactions for merchants, this partnership will further enhance the user experience and contribute to the broader growth of the cryptocurrency ecosystem.