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Tether Collaborates with TON Foundation and Oobit To Create Seamless Crypto-Payment Solution

16 May 2024 —Tether Operations Limited, the largest company in the digital asset industry, is joining forces with Oobit, a mobile payment app, and the TON Foundation to revolutionize the use of cryptocurrencies as a means of payment, offering users a seamless and convenient way to transact. 

This collaboration reaffirms Tether’s unwavering commitment to providing a borderless financial system through decentralized technology solutions that empower users in a rapidly growing world of digital finance. In alignment with this, Tether recently launched USD₮ and XAU₮ on TON to facilitate smooth transfer between users on TON’s ecosystem, enabling a swift, secure, and cost-effective process. 

Ushering in a new era of accessibility, efficiency, and convenience for users worldwide, over $200 million worth of USD₮ has since been issued on TON’s blockchain. This allows users to send USD₮ as a direct message on Telegram and spend the same USD₮ for instant crypto Tap payments on Oobit, highlighting Tether’s position as a leader in digital assets, committed to shaping the future of finance.

Speaking on this collaboration, Paolo Ardoino, CEO of Tether, said, “We are excited to collaborate with Oobit and the TON Foundation to expand Tether’s utility and promote the adoption of cryptocurrency payments. This collaboration underscores our commitment to driving innovation and accessibility in this space. Together, we will provide banking solutions to the unbanked population and revolutionize how users transact with cryptocurrencies, making it easier and more convenient.”

Oobit offers a convenient and smooth crypto Tap & Pay experience as a strategic part of this collaboration. They ensure merchants receive fiat currency, even if the payment is in USD₮. This integration will further expand the use of cryptocurrency as a means of payment, making it a practical and widely accepted option. 

Commenting further on the collaboration, Amram Adar, CEO of Oobit, said, “At Oobit, we’re driven by a mission to empower individuals to harness the full potential of digital assets. Our collaboration with the TON Foundation and Tether exemplifies this commitment. We’re not just providing another payment option; we’re providing unbanked access to the most prominent cryptocurrencies and worldwide payments using Oobit,” 

TON, a decentralized alternative to the conventional internet through blockchain technology, plays a pivotal role in this collaboration. The TON blockchain works with Telegram, meaning USD₮ and soon XAU₮ on TON, potentially providing a simple, borderless experience for Telegram’s user base for peer-to-peer (P2P) payments. This integration offers convenient access to decentralized services, enhancing the overall user experience.

“We are celebrating this collaboration with Oobit and Tether to enhance the TON ecosystem,” said Victor Mendes, Head of Business Development at Wallet. “This integration is making cryptocurrency accessible and easy to use. By integrating Toncoin into Oobit’s Tap & Pay feature, millions of users may enjoy a simple Web3 on- and off-ramp experience. Together, we’re accelerating toward our vision of putting  crypto in every pocket and driving mass adoption globally.”

With the overarching goal of expanding USD₮ accessibility globally and facilitating smooth value transfer within TON’s ecosystem, alongside providing a seamless crypto Tap & Pay experience with Oobit, Tether continues to lead the charge in transforming the cryptocurrency landscape and disrupting the traditional financial system.

Important Note

This press release is not an offer to sell or the solicitation of an offer to buy USD₮ or XAU₮. Tether Limited and Tether International Limited will only sell or redeem USD₮ pursuant to the terms of service available (as of the date of this press release) at https://tether.to/en/legal. TG Commodities Limited will only sell or redeem XAU₮ pursuant to its gold token terms of sale and service available (as of the date of this press release) at gold.tether.to/legal.

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