Tether Partners with TON and Oobit to Enhance Crypto Payments

Tether, the issuer of the USDT stablecoin, has partnered with The Open Network (TON) and Oobit to “create a seamless cross-chain payment solution.”

Tether Collaborates with @ton_blockchain and @oobit To Create Seamless Crypto-Payment Solution
Read more: https://t.co/Qaf6gTPhK9 pic.twitter.com/A9A3P6L5He

— Tether (@Tether_to) May 16, 2024

Oobit will provide a convenient and simple Tap & Pay interface. This ensures that merchants receive fiat currency even when payments are made in “stablecoins.” According to the participants, this will expand the use of crypto assets as a means of payment.

“Together, we will provide banking solutions for the unbanked and revolutionize the way digital currencies are used, making it simpler and more convenient,” said Tether’s head, Paolo Ardoino.

At the time of writing, TON is trading around $6.78. By market capitalization, the asset ranks ninth on CoinGecko with a valuation of $23.3 billion.

According to data on Tether’s website, a total of 238.5 million USDT has been issued on The Open Network.

In April, the stablecoin issuer added support for the TON blockchain.