Tether and Uquid e-commerce platform launch 1USD₮ store
The stablecoin issuer Tether, through its subsidiary Tether Operations Limited, has announced a partnership with the Web 3 e-commerce platform Uquid to launch a 1USD₮ store. This collaboration aims to utilize decentralized finance (DeFi) technology and blockchain infrastructure to enhance crypto micropayments and overall cryptocurrency shopping experiences, showcasing the practical applications of USD₮ in daily transactions and digital commerce.
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Uquid is a platform that leverages blockchain technology and decentralized finance to provide a secure and transparent shopping experience, offering millions of physical and digital products. It supports payments with various mainstream cryptocurrencies such as BTC, ETH, AVAX, Matic, and over thirty other cryptocurrencies, as well as Binance Pay and crypto.com Pay. Traditional payment methods like credit cards, bank transfers, Apple Pay, Google Pay, and Alipay are also accepted.
Uquid has collaborated with Tether to launch the 1 USD₮ store, which can be accessed through the traditional website or the @shop1USDt_bot on Telegram. The 1 USD₮ store offers a diverse range of products, from digital products like mobile top-ups, gift cards, game cards to physical products, tailored for different markets, all priced below 1 USD₮. However, upon visiting the website, many products are restricted for use in certain countries like Turkey, Argentina, and the Philippines.
In April, Tether expanded USDT and XAUT to TON, with CEO Paolo Ardoino stating that Telegram has an impressive ecosystem with 900 million monthly active users, while Tether has over 300 million users globally, potentially empowering each other's ecosystems. The Telegram Wallet custody wallet project also announced support for free transfers of USDT.
Tether Officially Launches on TON, Telegram Wallet Announces Support for USDT Free Transfers
Tether reaffirmed its mission through this project:
To facilitate the digital use of fiat currencies, promote financial freedom, and ensure access for the unbanked population.