Tether USDt

<a href="https://www.blockhead.co/tag/tether" rel="noopener noreferrer nofollow">Tether</a> is offering <a href="https://www.blockhead.co/tag/usdt/" rel="noopener noreferrer nofollow">USDT</a> support in the <a href="https://www.blockhead.co/tag/philippines/" rel="noopener noreferrer nofollow">Philippines</a> to allow its citizens to <a href="https://forkast.news/philippines-adopts-usdt-for-social-security-payments/?ref&#61;blockhead.co" rel="noopener noreferrer nofollow">pay</a> their Social Security System (SSS) contributions with its stablecoin.SSS is a government-operated social insurance program that covers employees through social security and employee compensation.Web3 shopping and services platform Uquid has partnered with Tether to allow Philippines citizens to pay their SSS contributions in USDT on The Open Network blockchain (<a href="https://www.blockhead.co/tag/ton/" rel="noopener noreferrer nofollow">TON</a>). Supporting merchants and customers, Uquid has a base of more than 260 million.Those wishing to pay with USDT are <a href="https://uquidcoin.medium.com/step-by-step-guide-to-paying-your-sss-dues-with-usdt-ton-via-uquid-d624256ed29f?ref&#61;blockhead.co" rel="noopener noreferrer nofollow">instructed </a>to log in to Uquid&#39;s <a href="https://shop.uquid.com/?ref&#61;blockhead.co" rel="noopener noreferrer nofollow">website</a> and use the &#34;mobile topup&#34; service to access SSS contributions. From there, users can pay using USDT-TON.&#34;We are now in the future where all this is being achieved, and we are proud to be part of the driving force that makes this happen,&#34; <a href="https://tether.io/news/tether-and-uquid-collaborate-to-showcase-the-use-case-of-usdt-in-everyday-transactions/?ref&#61;blockhead.co" rel="noopener noreferrer nofollow">said</a> Paolo Ardoino, CEO of Tether.Tran Hung, CEO of UQUID, described the partnership as a &#34;new benchmark for convenience and accessibility in digital shopping.&#34;The United Nations (UN) warned that USDT has become one of the most prominent payment methods for money laundering and scams in Southeast Asia.“Online gambling platforms, especially those operating illegally, have emerged as among the most popular vehicles for cryptocurrency-based money launderers, particularly for those using Tether,” the UN report <a href="https://www.ft.com/content/78c6ea20-5e9d-40ba-867f-1e0431ebb710?ref&#61;blockhead.co" rel="noopener noreferrer nofollow">said</a>.Nonetheless, the <a href="https://www.bloomberg.com/news/articles/2024-05-01/tether-says-profit-rose-to-a-record-during-the-first-quarter?embedded-checkout&#61;true&amp;ref&#61;blockhead.co" rel="noopener noreferrer nofollow">market value</a> of USDT is over $110 billion. In its recent Q1 earnings, Tether said it issued over $12.5 billion USDT in the period. $1 billion of the profit came from “net operating profit” through interest payments from treasuries.The Philippines Securities and Exchange Commission is set to <a href="https://www.bworldonline.com/corporate/2024/05/06/592830/sec-to-release-cryptocurrency-guidelines-by-second-half/?ref&#61;blockhead.co" rel="noopener noreferrer nofollow">introduce</a> its crypto framework by year-end.SEC Chairperson Emilio B. Aquino told reports that the regulator will &#34;come up with a framework&#34; and will &#34;issue it by the second half of this year.&#34;Its guidelines aim to regulate the crypto industry in the Philippines while prioritizing investor protection.

Filipinos Can Now Use Tether's USDT on TON Blockchain for Social Security Payments

Blockhead

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