Tether, the largest stablecoin issuer, is changing the game in the Philippines by allowing citizens to pay their Social Security System (SSS) dues in USDT. This significant development is the result of a collaboration with Web3 business Uquid. It's a significant step forward for everyday cryptocurrency use, demonstrating how crypto can make everyday life easier.
This approach combines tradition and innovation by leveraging the Open Network blockchain. Users of the SSS, which includes a wide variety of Filipino workers, can now enjoy the convenience of digital money for their government insurance contributions.
The agreement between Tether and Uquid is no small step. It's a huge leap, especially for a company like Uquid, which serves millions and is at the forefront of blockchain-powered commerce.
As stablecoins gain popularity, well-known companies such as PayPal and Ripple jump on board. They hope to meet the growing demand for solid digital money, particularly for speedy and global transactions.
This new integration will give new options to Filipinos. How big the impact of this event is remains to be seen.
