Philippines adopts USDT cryptocurrency to make social security payments

Stablecoin issuer Tether has announced the introduction of a new cryptocurrency payment option for residents of the Philippines. With this integration, Filipinos will be able to pay their Social Security System (SSS) contributions with the USDT stablecoin.

In a recent development, the broadcaster announced a partnership with Uquid to offer a service that allows Filipinos to pay their SSS contributions with the Tether (USDT) cryptocurrency on The Open Network blockchain. In the Philippines, the SSS is a government social security program for workers in the official, informal, and private sectors.

In its announcement, Uquid highlighted the importance of the partnership with Tether aiming at easier access to payment systems.

“Thank you Tether for your support! Paying SSS contributions with USDT on the Ton blockchain via UQUID is the perfect example of how stablecoins like USDT and cryptocurrencies in general can simplify and improve our daily lives. This aligns with UQUID’s vision of making crypto payments more accessible and widespread.”

🚀 Thank you @Tether_to for the support! Paying SSS contributions with USDT on @ton_blockchain via UQUID is the perfect example of how stablecoins like USDT and crypto in general can simplify and enhance our daily lives.

This aligns with UQUID’s vision of making crypto… https://t.co/MKsLUojZx3

— UQUID (@uquidcard) July 1, 2024

Uquid CEO Tran Hung commented on the recent integration by emphasizing user priority. “Uquid stands out by prioritizing user demand over maximum profit. Our dedicated research team explores emerging markets to bring you the best new products tailored to your needs. Unlike other platforms that hide fees on payments and focus on marketing, Uquid uses stablecoins to keep payment fees to a minimum.”

At the time of publication, Tether’s price was quoted at $0.9987 with no increase in the last 24 hours.

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