Tether Operations Limited, a leading entity in the digital asset ecosystem, announced a strategic partnership with Oobit, a mobile payment app, and the TON Foundation on May 16. This partnership follows Tether's recent launch of USDT and Tether Gold (XAUt) on The Open Network (TON) in April, marking a significant step in enhancing the user experience for cryptocurrency transactions.

The collaboration aims to streamline transactions with digital assets, USDT, and Tether Gold (XAUt), on the TON blockchain by integrating the Oobit mobile payment app. Through Oobit's Tap & Pay feature, merchants can seamlessly receive fiat currency even if the payment is made in USDT, expanding the practical use of cryptocurrencies as a widely accepted payment option.

Earlier this year, Tether participated in Oobit's Series A funding round, raising $25 million. Amram Adar, CEO of Oobit, emphasized the inclusive nature of the partnership, highlighting the goal of providing unbanked access to prominent cryptocurrencies and enabling worldwide payments through Oobit.

The TON blockchain, integrated with Telegram, provides a simple, borderless experience for peer-to-peer payments. Since the integration, over $200 million worth of USDT has been issued on TON's blockchain, allowing users to send USDT via direct messages on Telegram and utilize it for instant crypto Tap payments on Oobit. USDT is also available on 14 other blockchains, including Tron and Ethereum, and joined the Celo network in March.

Paolo Ardoino, CEO of Tether, expressed excitement about the collaboration, emphasizing the aim to provide banking solutions to the unbanked population and revolutionize how users transact with cryptocurrencies, making it easier and more convenient.

In addition to this partnership, Tether recently announced additional investment into CityPay.io, a platform enabling users to make payments at various establishments using cryptocurrencies like Bitcoin. With plans to expand to Armenia, Azerbaijan, Kazakhstan, and Uzbekistan, Tether continues to spearhead initiatives aimed at promoting the widespread adoption of digital assets in the global payment landscape.