Filipino citizens will be able to pay their Social Security System (SSS) contributions with USDT thanks to Tether’s partnership with Uquid.
Tether Operations Limited, the issuer of the largest stablecoin USDT, announced a partnership with Uquid, a Web3 e-commerce platform. The collaboration aims to launch 1USDT Store, an online service that allows the use of USDT stablecoins on The Open Network (TON) blockchain for purchasing various goods and services. Specifically, citizens of the Philippines will be able to make contributions to the Social Security System (SSS) using crypto.
The Social Security System (SSS) is the Philippines’ state social insurance program, serving government employees and private sector workers. The program is designed to provide support to citizens during challenging times and has two main branches: social security and workers’ compensation.
According to Tran Hung, CEO of Uquid, the partnership with Tether will enhance the accessibility of micropayments, significantly expanding the use of digital assets by Filipino citizens for everyday transactions.
In addition to the Philippines, the 1USDT Store service also allows the use of USDT to purchase various cards for paying telecommunications companies, mobile operators, and online services in countries such as Mexico, Argentina, Uruguay, Paraguay, Peru, the Dominican Republic, Ghana, Uzbekistan, Thailand, South Africa, Colombia, Haiti, Panama, Turkey, Ecuador, Kenya, and others. Uquid serves over 260 million users globally.
The demand for stablecoins continues to grow. To meet users’ needs, major payment systems started supporting payments in stablecoins and issuing their own stablecoins.
