Tether Enables Social Security Payments with USDT in the Philippines

USDT-issuer Tether has announced a new initiative allowing Filipino citizens to pay their social security contributions using cryptocurrency.

According to Tether, Filipinos can now make social security payments with USDT on the TON (TON) blockchain using a UQUID card. UQUID, a self-described “Web 3 e-commerce platform,” provides a straightforward seven-step process to facilitate these payments.

This move comes shortly after Tether and UQUID launched the 1 USDT store, an online shop tailored for crypto transactions, aimed at expanding the practical use cases for digital currencies.

Enhancing the Crypto Shopping Experience

Tether CEO Paolo Ardoino expressed enthusiasm about the partnership, stating, “We are excited to work with Uquid to overhaul the crypto shopping experience. In past years, users could only wish for limitless cross-border payment solutions that are reliable and non-restrictive. We are now in the future where all this is being achieved, and we are proud to be part of the driving force that makes this happen. With the launch of the 1 USDT store, users and merchants alike can be part of a new era of convenient, transparent, and rewarding digital transactions.”

UQUID CEO Tran Hung added, “Launching the 1 USDT Store represents a significant milestone in our journey to bridge the gap between digital currencies and daily transactions, making crypto micropayment applicable.”

The collaboration between Tether and UQUID highlights the increasing integration of digital currencies into everyday financial activities. By enabling social security payments with USDT, Tether is paving the way for broader acceptance and utility of cryptocurrencies in the Philippines. This initiative also underscores the potential for blockchain technology to simplify and enhance financial transactions.