Oobit Integrates Toncoin with Tether to Expand TON Payments

Oobit, a leading mobile payment app, has collaborated with TON Foundation to integrate its native cryptocurrency, TON (Toncoin), into its platform, advancing the usage of cryptocurrency as a means of payment. Toncoin holders will be able to Tap & Pay at over 100 million retailers worldwide.

The integration will further strengthen the recent announcement of the collaboration between the largest company in the digital asset industry, Tether, and the TON Foundation. As they allow instant and free cross-border payments between all platform users, and with Oobit supporting payments for both USDT and Toncoin - the $200 million USDT now issued on TON’s blockchain will not only be available for sending payments as a direct message on Telegram, it will also be spendable for instant crypto tap payments on Oobit at merchants worldwide.

The synergy between the three entities is innovating the crypto payment landscape. Leveraging Tether's dominance in the stablecoin market and TON's rapidly expanding user base, Oobit is empowering the shared vision to drive the widespread adoption of cryptocurrencies globally with its tap-and-pay feature.

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 provides the gateway to spending cryptocurrencies in traditional commerce settings. Consumers pay with their crypto, but merchants receive fiat money, mirroring the simplicity of Apple Pay®. While consumers and merchants experience a simple Tap & Pay solution, numerous critical processes and transactions occur behind the scenes in real-time, allowing for complete seamlessness.

"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 the unbanked access to the most prominent cryptocurrencies and worldwide payments using Oobit,” said Amram Adar, CEO of Oobit.

"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."

About The Open Network (TON)

The Open Network (TON) is putting crypto in every pocket. By building a Web3 ecosystem in Telegram Messenger, TON is giving billions the opportunity to own their digital identity, data, and assets. See more at https://ton.org/

About Tether and USD₮

Tether is a pioneer in the field of stablecoin technology, driven by an aim to revolutionize the global financial landscape, with a mission to provide accessible, secure, and efficient financial, communication, and energy infrastructure. Tether enables greater financial inclusion, and communication resilience, fosters economic growth, and empowers individuals and businesses alike.

As the creator of the largest, most transparent, and liquid stablecoin in the industry, Tether is dedicated to building sustainable and resilient infrastructure for the benefit of underserved communities. By leveraging cutting-edge blockchain and peer-to-peer technology, it is committed to bridging the gap between traditional financial systems and the potential of decentralized finance.