Tether partners with Uquid to support the Filipino people in paying social security with USDT

2024-07-01 18:43:35

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ChainCatcher news, according to Cointelegraph, the world's largest stablecoin issuer Tether has partnered with Web3 shopping and infrastructure company Uquid to launch a new crypto payment option that enables Filipino citizens to pay for Social Security System (SSS) fees using Tether USDT through the TON blockchain. Uquid stated that this collaboration demonstrates how stablecoins like USDT and cryptocurrencies can simplify and enhance the convenience of daily life.

Uquid CEO Tran Hung stated that the partnership with Tether marks an important step in their journey to integrate digital currencies with everyday transactions, making small crypto payments feasible. This latest initiative supported by Tether sets a new benchmark for the convenience and accessibility of digital shopping.

In recent years, the demand for stablecoins has been on the rise, becoming a major liquidity provider in both centralized and decentralized markets, and gradually being applied to everyday payments. Mainstream payment platforms, including PayPal and Ripple, have also launched or are planning to launch their own stablecoins to meet the growing demand.

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