Tether Collaborates to Launch 1USDT Store: Will Investor Confidence Rise?

Tether Operations Limited Announced The company announced that it has partnered with Uquid, a Web 3 e-commerce platform, to launch the 1USDTM store. The partnership aims to showcase the utility of USDT in everyday transactions and digital commerce by leveraging decentralized finance (De-Fi) technology and blockchain infrastructure to improve crypto micropayments and the overall crypto purchasing experience.

The partnership will see a range of products available exclusively with USDT, making shopping easy and fast for customers, and will offer a range of products catering to different markets, including digital and physical goods such as gift cards and mobile top-ups, all priced under $1.5.

At the time of publication, the token was trading at $0.9997, up 0.01% from the same time the previous day.

“We are thrilled to work with Uquid to reinvent the crypto shopping experience. Until now, users could only hope for a reliable, limitless and unlimited international payment solution. We are now in a future where all of this is possible, and we are proud to be part of the driving force making this happen. With the launch of the 1USD₮Store, users and merchants alike can join a new era of digital commerce that is convenient, transparent and rewarding,” said Paolo Ardoino, CEO of Tether.

Tether: Investor confidence improves

Tether has seen an upswing in investor confidence over the past few weeks. With 110 billion USDT in circulation, Tether’s market cap is $113,115,298,403.

The reason the coin is so popular among investors is that Tether combines the strength of blockchain technology with the stability and security of fiat currencies, providing a decentralized, user-friendly payment method that allows for near-instant cross-border transfers.

Compared to the existing banking and finance industry, USDT Transactions do not involve intermediaries such as banks or financial institutions, resulting in near-instant settlement times, lower transaction costs and greater transparency.

Because it is pegged 1:1 to fiat currencies (e.g., 1 USDT = 1 USD), the price of the Tether token correlates closely with the price of the US Dollar. To deposit the same number of Tether tokens into a cryptocurrency wallet, users deposit fiat currency into a Tether bank account. Users can then trade, hold, and transact these USDT tokens just like any other cryptocurrency, without having to worry about losing all their funds in a sudden drop in the Tether price.

Every time a user sells USDT for fiat, Tether deducts an equal number of tokens in circulation. By performing this action, Tether’s price is guaranteed to remain pegged to the US Dollar.

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