USDT Goes Retail: Tether Partners With Uquid to Launch 1USDT Store

Coingapestaff
June 25, 2024 Updated May 14, 2025
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USDT Issuer Tether Unveils AI SDK Platform Boosting Crypto Trading

Highlights

  • Tether and Uquid collaborate to launch the "1 USDT" store, showcasing USDT's utility in digital commerce.
  • The store offers a variety of products, including mobile top-ups and gift cards, all priced under 1 USDT.
  • This initiative leverages blockchain and DeFi technology to enhance the crypto shopping experience with secure and transparent transactions.

Tether Operations Limited has announced a partnership with Uquid, a Web 3 e-commerce platform, to launch the “1 USDT” store. This innovative project aims to demonstrate the practical application of USDT in everyday transactions and digital commerce.

By leveraging DeFi technology and blockchain infrastructure, the initiative seeks to enhance crypto micropayments and improve the overall crypto shopping experience. This move represents a significant step towards integrating cryptocurrency into daily retail activities.

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Tether’s New Retail Initiative And Store Features

The partnership between Tether and Uquid marks a major development in digital commerce. The “1 USDT” store will offer a wide range of products purchasable exclusively with USDT, enabling efficient shopping for users. Customers can access the store through the website or via the Telegram bot “@shop1USDT_bot“. The store’s inventory includes various digital items such as mobile top-ups and gift cards, as well as physical products, all priced under 1 USDT and tailored to different markets.

Uquid, which has been at the forefront of Web3 shopping infrastructure since 2016, uses blockchain technology and decentralized finance to provide secure and transparent shopping. The company has upgraded its DeFi payment system to address Web 2.0 shopping concerns and offer a seamless Web3 shopping experience. Uquid’s CEO emphasized that this Tether-backed initiative sets a new standard for convenience and accessibility in digital shopping.

In the same light Paolo Ardoino, CEO of Tether, expressed excitement about the partnership, highlighting its potential to transform the crypto shopping experience. He emphasized the achievement of creating limitless cross-border payment solutions that are reliable and non-restrictive, marking a new era of convenient, transparent, and rewarding digital transactions for both users and merchants.

Also Read: Metaplanet Creates Offshore Arm for Enhanced Bitcoin Strategy

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Tether’s Decision on EOS and Algorand

In a separate development, Tether has decided to discontinue support for USDT on the EOS and Algorand blockchains. This decision was based on factors including community interest, maintenance requirements, and usage levels. Tether explained that it carefully evaluates a blockchain’s security features before launching USDT on it, prioritizing safety and long-term viability. The implication is that EOS and Algorand may not have met Tether’s stringent criteria.

As a result of this decision, Tether has immediately stopped minting USDT on these networks. However, to ensure a smooth transition for users, the company will continue to allow USDT redemptions on EOS and Algorand for the next 12 months. This move underscores Tether’s commitment to maintaining the highest standards of security and efficiency in its operations across different blockchain platforms.

Also Read: Julian Assange Release: A Political Move To Sway Bitcoin and Crypto Investors?

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.