Why did UQUID’s 1 USDT Store see a 125% Increase in USDT Transactions on TON?
We launched the 1 USDT Store in June 2024, powered by both us and Tether, to let users buy a wide range of digital and physical goods for just 1 USDT. Our aim is to show the stability of USDT, proving that 1 USDT maintains its value even as fiat currencies fluctuate. By offering hundreds of thousands of products at this price, we’re making cryptocurrency practical for everyday use. The store operates across multiple blockchains, with the TON Network standing out for its fast, efficient, and secure platform for USDT transactions.
In August, we saw a 125% increase in shoppers using USDT on the TON Network for purchases at the 1USDT Store, highlighting the growing demand for decentralized commerce.
This surge reflects increasing trust in USDT as a stable currency and TON as a powerful platform for day-to-day transactions. With USDT on TON, our users enjoy secure, low-cost, and efficient payments, supporting the global shift toward decentralized, user-driven commerce.
Regional breakdown of USDT usage on TON
The regional data behind this surge reveals valuable insights. Latin America (LATAM) led the charge, with a 38% increase in USDT usage. This growth emphasizes how cryptocurrency is playing a vital role in financial inclusion, particularly in regions where economic instability and inflation challenge traditional banking systems.
By offering stable, accessible financial services through USDT, UQUID is empowering users in LATAM to overcome these barriers. Following LATAM is Africa, with a 26% rise in USDT transactions. Many countries across the continent face high banking fees and limited access to financial institutions, making TON’s low-cost, efficient network an attractive solution. UQUID’s integration of USDT on TON enables smoother transactions, allowing users to participate more fully in global commerce.
In the CIS (Commonwealth of Independent States), USDT adoption increased by 22%. Geopolitical and financial challenges in this region make decentralized solutions like TON and USDT highly appealing, providing users with a stable and secure alternative for making purchases. Asia saw a 10% increase, reflecting a steady rise in the adoption of blockchain-powered financial solutions.
While the growth rate is smaller compared to other regions, it still highlights TON’s expanding footprint as more users begin to incorporate USDT into their everyday transactions.
“This surge in USDT transactions on the TON Network reflects a strong, global shift toward decentralized finance. Users are increasingly recognizing the advantages of secure, fast, and low-cost transactions through blockchain. The growth we’re seeing in regions like LATAM, Africa, and CIS demonstrates how crucial stablecoins like USDT are becoming for daily purchases, particularly where traditional financial systems fall short.”, Tran Hung, CEO of UQUID, commented on the growth.
The Power of the TON Network and UQUID’s Vision for the Future
The Open Network (TON) is one of the fastest-growing stablecoin ecosystems, with over $580 million in circulation as of June 2024. UQUID, as one of the 60 new partners supporting USDT on TON, has leveraged the network to offer new solutions. In June 2024, UQUID introduced USDT on TON for Social Security System (SSS) payments in the Philippines. Additionally, TON Connect allows users to link their TON Wallet to UQUID’s digital shop, making purchases smoother.
UQUID integrated USDT on TON because of its fast, efficient transactions, strong security, and lower fees compared to traditional methods. This makes it ideal for everyday transactions. TON’s global accessibility is crucial for regions where banking services are limited. For example, 2.2 million Overseas Filipino Workers (OFWs) now use USDT on TON to manage SSS payments, highlighting the real-world impact.
UQUID and TON are focused on making financial transactions easier, more secure, and accessible to everyone. By integrating USDT on TON, UQUID helps bridge traditional finance with decentralized solutions, pushing digital commerce forward.
