Tether announces partnership with blockchain marketplace Uquid to promote USDT payments

The parties launched a trading platform with goods worth less than 1 USDT

25.06.2024 - 13:55

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Last updated on Aug 6, 2024

What’s new? Tether, the issuer of USDT, the largest USDT stablecoin with a capitalization of $112,8 billion, has announced a partnership with Web 3.0 e-commerce platform Uquid to launch the 1USDT Store marketplace. The initiative aims to incentivize the use of the leading stablecoin in daily payments.

Press release

What else is known? The marketplace is accessible via the Uquid website or a bot in the Telegram messenger. It features a wide range of products and services, including mobile and gaming top-ups, gift cards, and physical products that can only be purchased with USDT.

Each product and service is priced at a maximum of 1 USDT. The initiative is designed to demonstrate the convenience and speed of using cryptocurrencies to make purchases.

Blockchain shopping platform Uquid launched in 2016, it operates in over 180 countries, has over 2,5 million customers, and offers 168 million physical and digital products.

Its partners include exchanges Binance, OKX, Crypto.com, Gate.io, 1inch, and KyberSwap, ecosystems Polygon, TRON, NEAR, Fantom, Floki, and Shiba Inu, as well as many other projects and companies. Thus, Uquid supports the payment systems of these exchanges and the digital currencies available in them, including bitcoin and the largest altcoins by capitalization.

A decentralized financial (DeFi) system for making payments offers Uquid users a Shop to Earn model. Sellers can use the platform to run promotional campaigns, including airdrops.

Tether will stop supporting USDT on the EOS and Algorand networks

Asset redemption will be available on these networks for the next 12 months

USDT (issued on the TRON blockchain) was available on Uquid previously as part of a partnership with the TRON DAO. Now, as part of the partnership with Tether, the platform will offer a store where purchases are only available for USDT. At the same time, USDT can be used to pay with TRON, Ethereum, TON, Polygon, and Binance Smart Chain.

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