TON Taps Tether-backed Oobit for ‘Instant Crypto Tap’ Payments

Three companies join forces to drive the future of crypto payments through a seamless “Tap & Pay” experience.

Two people agreeing on a stablecoin.
Created by Kornelija Poderskytė from DailyCoin
  • TON, Tether, and Oobit have announced a new partnership.
  • The partnership aims to drive crypto innovation and adoption.
  • It comes after Tether launched its stablecoin on TON in April.

The TON Foundation has joined forces with USDT issuer Tether and mobile payment app Oobit to “revolutionize” the use of crypto in everyday transactions.

The partnership comes after Tether launched its dollar-pegged stablecoin and Tether Gold (XAU₮), a gold-backed digital token, on The Open Network (TON) in April, solidifying its presence across 15 blockchains.

Shaping the Future of Crypto Payments

According to a press release dated May 16, the three companies have partnered to shape the future of crypto payments by enabling a seamless, convenient, and practical way to transact on the go.

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As part of the collaboration, Oobit will offer a “smooth Tap & Pay crypto experience,” allowing merchants to receive fiat currency even if the payment is made in USDT.

“This integration will further expand the use of cryptocurrency as a means of payment, making it a practical and widely accepted option,” the statement read.

Commenting on the collaboration, Tether CEO Paolo Ardoino noted that it expanded USDT’s utility and underscored the company’s commitment to driving innovation and accessibility in the crypto industry.

“We are excited to collaborate with Oobit and the TON Foundation,” Ardoino stated. “Together, we will provide banking solutions to the unbanked population and revolutionize how users transact with cryptocurrencies, making it easier and more convenient.”

Victor Mendes, the head of Business Development at Wallet, also lauded the collaboration, noting that Oobit’s Tap & Pay feature would allow millions of users to enjoy a simple Web3 on- and off-ramp experience.

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Stay updated on Tether’s latest $200M investment:
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Read about Circle’s plan to shift its legal base to the U.S.:
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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.