The Social Security System (SSS) in the Philippines, a state-run social insurance program for employees in various sectors, now accepts payments in Tether’s USDT. This new crypto payment option is part of a partnership between Tether and Web3 infrastructure firm Uquid, aimed at simplifying and enhancing daily transactions for citizens.
Source: Uquid
The SSS provides support for citizens during difficult times through its social security and employee compensation programs. The new payment method allows contributions to be made using USDT on The Open Network blockchain.
Uquid, a decentralized commerce platform, leverages decentralized finance and blockchain technology to offer crypto payment options. With over 260 million users, Uquid supports merchants and customers across various markets. Tran Hung, CEO of Uquid, stated that the partnership with Tether marks a significant milestone, making crypto micropayments more applicable and setting a new benchmark for convenience in digital shopping.
Cryptocurrencies, especially stablecoins, have seen increased mainstream adoption. Originally used as an on-ramp tool for centralized exchanges, stablecoins have become essential for liquidity in both centralized and decentralized markets. Major companies like PayPal and Ripple are also launching their own stablecoins to meet the growing demand, with stablecoins being actively used for cross-border payments at an institutional level.
Cointelegraph reached out to Tether for comments but did not receive a response by publication.
