Tether Partners With Uquid to Launch 1USDT Store

Tether Operations Limited has announced a partnership with Uquid, a Web 3 e-commerce platform, to launch the “1 USDT” store. The innovative project aims to demonstrate the practical application of USDT in everyday transactions and digital commerce.

The initiative aims to leverage DeFi technology and blockchain infrastructure to enhance crypto micropayments and improve the overall crypto shopping experience. The move marks a significant step towards integrating cryptocurrencies into everyday retail activities.

Tether’s New Retail Initiatives and Store Features

The partnership between Tether and Uquid marks a major development in digital commerce. The “1 USDT” store will offer a wide range of products that can be purchased with just USDT, allowing users to shop efficiently. Customers can: Website

or via the Telegram bot:translator“The store’s inventory includes a variety of digital items and physical products, such as mobile top-ups and gift cards, all priced under 1 USDT and tailored to different markets.

Uquid, which has been at the forefront of Web3 shopping infrastructure since 2016, utilizes blockchain technology and decentralized finance to provide secure and transparent shopping. The company has upgraded its DeFi payment system to address Web 2.0 shopping concerns and provide a seamless Web3 shopping experience. Uquid’s CEO emphasized that this Tether-backed initiative sets a new standard for convenience and accessibility in digital shopping.

Similarly, Tether CEO Paolo Ardoino also expressed his excitement about the partnership, highlighting its potential to transform the crypto shopping experience. He highlighted the achievement of creating a reliable, limitless, unlimited cross-border payment solution, ushering in a new era of convenient, transparent, and rewarding digital transactions for both users and merchants.

Read also: Metaplanet Establishes Offshore Division to Strengthen Bitcoin Strategy

Tether’s Decision on EOS and Algorand

In a separate development, Tether has decided to discontinue support for USDT on the EOS and Algorand blockchains. The decision is based on factors including community interest, maintenance requirements, and levels of usage. Tether explained that it is carefully evaluating the security features of blockchains before releasing USDT, prioritizing safety and long-term viability. This means that EOS and Algorand may not meet Tether’s strict standards.

As a result of this decision, Tether has immediately stopped issuing USDT on these networks. However, to ensure a smooth transition for users, the company will continue to allow redemption of USDT on EOS and Algorand for the next 12 months. This move underscores Tether’s commitment to maintaining the highest standards of security and efficiency in its operations across various blockchain platforms.

Read also: Julian Assange’s Release: A Political Move to Motivate Bitcoin and Cryptocurrency Investors?

Related Article

0 Comments

Leave a Comment