25 June 2024 —Tether Operations Limited, the largest company in the digital asset industry, has announced a collaboration with Uquid, a Web 3 E-commerce platform, to launch the 1USD₮ store. This collaboration aims to demonstrate the practical use of USD₮ in everyday transactions and digital commerce, leveraging cutting-edge decentralized finance (De-Fi) technology and blockchain infrastructure to enhance the crypto micropayments and the overall crypto shopping experience.
This collaboration, which marks another step in the evolution of digital commerce, will make a wide range of products available for purchase exclusively with USD₮, ensuring users can shop quickly and conveniently. The 1 USD₮ Store is accessible through the website 1USDt.store or the @shop1USDt_bot on Telegram. It offers a diverse range of products, from digital products like mobile top-ups and gift cards to physical products, etc., tailored to different markets, all priced under 1 USD₮.
Uquid, a platform that leverages blockchain technology and decentralized finance to provide a secure and transparent shopping experience, has been a pioneering force in Web3 shopping infrastructure since 2016. Uquid upgraded the De-Fi payment system of digital e-commerce to support users in solving problems with Web 2.0 shopping concerns and having a Web3 shopping experience by offering a seamless and secure shopping solution.
“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 USD₮ store, users and merchants alike can be part of a new era of convenient, transparent, and rewarding digital transactions,”. Said Paolo Ardoino, CEO of Tether.
Tran Hung, CEO of UQUID, stated: “Launching the 1 USD₮ Store represents a significant milestone in our journey to bridge the gap between digital currencies and daily transactions, making crypto micropayment applicable. Our dual-platform approach ensures that customers can engage with our services through Telegram or our dedicated online portal, enhancing the flexibility and reach of our services. This initiative, backed by Tether, sets a new benchmark for convenience and accessibility in digital shopping.”
This collaboration further reaffirms Tether’s goal of facilitating the digital use of fiat currencies to promote financial freedom and ensure access for the unbanked population.