As an experienced financial analyst, I am closely monitoring the latest developments in the cryptocurrency industry. The recent collaboration between Tether, Oobit, and the TON Foundation is a significant move that has the potential to revolutionize the crypto payments sector.
On Friday, Tether, the leading stablecoin provider, announced a fresh collaboration with Oobit, a user-friendly mobile payment application, and the TON Foundation. The primary objective of this alliance is to revolutionize the digital currency transaction sector by offering an effortless and uncomplicated method for users to transfer funds.
Tether’s objective is realized through this campaign, aiming to establish a financially inclusive system that transcends borders by leveraging decentralized technology.
Tether Expands USDT and XAU₮ on TON Blockchain
Within the context of this collaboration, Tether has recently introduced its stablecoins, USD⋅T and XAU⋅T, onto the TON blockchain. This move facilitates seamless transfers among TON ecosystem participants, resulting in a swift, secure, and cost-effective transaction experience.
Following the rollout, over $200 million in USD\_\_ has been distributed on the TON blockchain. This advancement enables users to transfer USD\_\_ via Telegram and employ it for swift cryptocurrency transactions on Oobit. This functionality reinforces Tether’s influence within the digital asset sector.
Tether Partners with TON Blockchain and Oobit to Develop Flawless Cryptocurrency Payment System (Alternatively, Tether teams up with TON Blockchain and Oobit to build a smooth crypto-pay solution)
— Tether (@Tether_to) May 16, 2024
Paolo Ardoino, the CEO of Tether, expressed great excitement about this collaboration and highlighted its potential for fostering innovative ideas in the realm of cryptocurrency transactions. Ardoino emphasized that this alliance will bring banking services to the unbanked and drastically change how people conduct transactions using digital currencies.
Oobit’s Role in Crypto Tap & Pay
With Oobit, making crypto payments is quick and convenient. Merchants receive their preferred fiat currency, regardless of whether the transactions were conducted in USD₮.
The implementation of this integration expands the functionality of cryptocurrencies as a viable payment choice, broadening their acceptance among merchants and consumers alike.
Amram Adar, the CEO of Oobit, expressed their goal of allowing individuals to fully harness the potential of digital assets. He highlighted how their partnership would grant access to well-known cryptocurrencies and global payment solutions for unbanked people through Oobit.
TON Foundation’s Role in Decentralized Payments
At the same time, the non-profit TON Foundation, which advocates for a decentralized version of the internet utilizing blockchain technology through the TON project, is a significant partner in this endeavor.
As a researcher studying the intersection of blockchain technology and communication platforms, I’m excited about the partnership between TON blockchain and Telegram. This alliance brings USD₮ and soon XAU₮ to TON, enabling seamless, borderless peer-to-peer payments for Telegram’s vast user base. The result? A larger segment of the global population can now access decentralized services, leading to a significantly enhanced user experience.
Victor Mendes, the Business Development CEO at Wallet, announced that our partnership brings cryptocurrency closer to the masses with ease. By merging Toncoin into Oobit’s Tap & Pay function, we’re providing an intuitive Web3 onboarding and offboarding solution for millions of users. This move will undoubtedly speed up the quest for widespread crypto adoption.
Despite the recent progress, the TON price hasn’t shown any significant improvement yet. It decreased by 3.46% over the past day and is currently trading at $6.74.
As a researcher observing the market, I’ve noticed that TON‘s market capitalization decreased by 3%, resulting in a total value of approximately $23.4 billion. Simultaneously, the trading volume experienced a significant increase of around 73.5%, reaching nearly $680 million within the past 24 hours.
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2024-05-16 17:50