- Tether and Uquid enable Filipino citizens to pay Social Security System contributions using USDT.
- Uquid’s infrastructure and crypto payment support expand crypto use beyond traditional finance.
Tether, the world’s largest stablecoin issuer, has launched a new payment option for Filipino citizens. Through a partnership with Web3 firm Uquid, Tether now enables citizens in the Philippines to settle their Social Security System (SSS) contributions using USDT, a stablecoin pegged to the US dollar, on The Open Network blockchain (TON).
The Social Security System of the Philippines, a crucial state-managed insurance program covering employees across the formal, informal, and private sectors, has embraced this initiative. This move underscores Tether and Uquid’s commitment to integrating digital currencies into daily financial transactions, highlighting the potential for stablecoins like USDT to streamline payment processes and bolster financial inclusion.
Uquid, known for its decentralized commerce infrastructure. That leveraging blockchain technology and decentralized finance (DeFi), boasts a substantial user base exceeding 260 million globally.
This collaboration marks the advancing adoption of crypto in everyday transactions. That showcasing how digital assets can enhance accessibility and efficiency in financial services globally.
Highlighted Crypto News Today:
Hawaii Drops Money Transmitter License Requirement for Crypto Firms
