Tether, the stablecoin issuer, has announced a new cryptocurrency payment option for residents of the Philippines. This integration will allow Filipinos to pay their Social Security System (SSS) contributions with the stablecoin USDT.
The partnership with Uquid will enable Filipinos to use the cryptocurrency Tether (USDT) to pay their SSS contributions on The Open Network blockchain. The SSS in the Philippines is a government social insurance program that benefits workers in the official, informal, and private sectors.
Uquid emphasized the significance of the partnership with Tether, aiming to create easier access to payment systems. The company’s CEO, Tran Hung, expressed that Uquid prioritizes user demand over maximum profit, with a dedicated research team exploring emerging markets to develop new products tailored to the users’ needs.
The price of Tether at the time of publication was quoted at US$0.9987, with no increase in the last 24 hours. It is important to note that the views and opinions expressed in the article are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries a risk of financial loss. Additionally, a report has predicted net inflows of $15 billion attracted by Ethereum ETFs in the first 18 months, with epic inflows forecast for Ethereum ETFs in the first five months.