"This is what we want, a very positive development."
Tether, the largest stablecoin firm signed an agreement with mobile payment application Oobit and TON Foundation to transform the cryptocurrency payment industry allowing users to transfer money smoothly and easily.
Recently, Tether has introduced USDT and XAUT stablecoins on the TON blockchain which will make it easier for members of the TON ecosystem to transfer between them thus ensuring a fast, secure and cheap transaction process.
Shortly after the launch allowed users to send USDT via Telegram and use it for instant crypto Tap payments on Oobit, over $200 million in USDT was released on the TON blockchain.
According to Amram Adar, Oobit's Chief Executive Officer (CEO) said the app provides a fast and easy Tap & Pay crypto experience where it guarantees merchants get fiat currency even if the payment is made in USDT.
Please be informed that the TON Foundation is a non-profit organization that promotes the decentralized replacement of the traditional internet through blockchain technology which plays an important role in the collaboration.
Through the integration of TON into Oobit's Tap & Pay feature, millions can easily have a Web3 on-and off-ramp* experience that will also accelerate the vision of widespread crypto adoption.
*The process of exchanging fiat currency (such as US dollars) for crypto
Until this news was written, the price of TOM still recorded a 2.05% increase at the level of $6.69 in the last 24 hours with a market capitalization of more than $23 billion and subsequently decreased by 2.37% during the last week.
