Tether and Uquid Partner to Demonstrate USD₮ in Everyday Transactions

Tether and Uquid Collaborate to Showcase The Use Case of USD₮ in Everyday Transactions

On June 25, 2024, Tether Operations Limited, a leading player in the digital asset industry, joined forces with Uquid, a Web3 E-commerce platform, to launch the 1USD₮ store. This partnership aims to demonstrate how USD₮ can facilitate seamless digital shopping and everyday purchases. Through the integration of advanced decentralized finance (De-Fi) technology and blockchain infrastructure, they envision making crypto micropayments and crypto-based shopping more accessible and enjoyable.

Exploring How USD₮ Enhances Digital Shopping and Crypto Transactions

The 1USD₮ store is a pioneering step in digital commerce, allowing users to purchase a wide array of products using USD₮ as their sole payment method, ensuring quick and hassle-free transactions. The store can be accessed through the website 1USDt.store or via the @shop1USDt_bot on Telegram. It offers a diverse selection of products, from digital goods like mobile top-ups and gift cards to physical items, all priced under 1 USD₮.

Since 2016, Uquid has been at the forefront of Web3 shopping infrastructure, leveraging blockchain technology and decentralized finance to deliver a secure and transparent shopping experience. They have upgraded their De-Fi payment system to address the shortcomings of Web 2.0 shopping, providing a frictionless and secure Web3 shopping solution.

Paolo Ardoino, CEO of Tether, expressed his enthusiasm for the partnership: "We are thrilled to collaborate with Uquid to transform the crypto shopping experience. Previously, users could only dream of unrestricted, reliable cross-border payment solutions. Now, we are making this a reality and are proud to be at the forefront of this change. With the launch of the 1USD₮ store, users and merchants can embrace a new era of convenient, transparent, and rewarding digital transactions."

Tran Hung, CEO of UQUID, emphasized the significance of the 1USD₮ Store launch: "The launch of the 1USD₮ Store is a major milestone in our mission to bridge the gap between digital currencies and everyday transactions, making crypto micropayments practical. Our dual-platform approach allows customers to access our services through Telegram or our online portal, enhancing the flexibility and reach of our offering. This initiative, supported by Tether, sets a new standard for convenience and accessibility in digital shopping."

UQUID Shop Enhances Global Shopping with Tether Integration

In a recent development, UQUID Shop has integrated USD₮ on the Ton blockchain, further enhancing the store's utility. This integration leverages the Ton Network's fast and cost-effective transactions, improving the overall shopping experience. The incorporation of USD₮ ensures lower processing fees and faster transaction speeds, making everyday crypto use more practical. This strategic move aligns with the growing demand for efficient crypto-payment solutions in online shopping. By adopting USD₮ on the Ton blockchain, UQUID Shop offers swift and economical transactions, especially for international purchases. With over 160 million products available and support for transactions in more than 200 countries, UQUID Shop is a truly global platform. The integration of USD₮ significantly reduces transaction costs, making global shopping more accessible and affordable.

Summary

The partnership between Tether and Uquid, initiated in early 2023, highlights their commitment to revolutionizing digital transactions and enhancing accessibility for a global audience. The 1USD₮ store and the integration of USD₮ on the Ton blockchain represent major advancements in making cryptocurrency practical for everyday use. This collaboration reinforces Tether's dedication to promoting the digital use of fiat currencies, fostering financial freedom, and extending access to the unbanked population.

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