Tether (USDT) recently announced that Tether (USDt) is set to be the first stablecoin that will launch on MeconCash (MCH), which is a platform that is used for payments, rewards and transactions of online and mobile services.
MCH has to state that the USDt holders will now be able to withdraw USDt in Korean Wons from more than 13,600 ATMs in South Korea by making use of the MCH’s M.Pay platform. The USDT integration into the MCH ecosystem will make it possible for users to use USDT for different payment services.
The goal of launching USDt on MCH is to mitigate several obstacles from the legacy financial system, ranging from slow overseas remittances, high remittance commissions, and price fluctuations.
Jae Do Cho, Chairman at MeconCash Stated, “Today, we’re excited to announce the launch of tether in the MeconCash ecosystem that supports a variety of services and solves actual problems that people face on a daily basis.” Further stated, “We are delighted that we can solve the same problems and are proud to be having tether in our ecosystem.”
Paolo Ardoino, CTO at Tether stated, “We are witnessing mushrooming use cases for tether, as the most stable and liquid stablecoin,” He further added “The launch of tether in the MeconCash ecosystem represents yet another important milestone in its ascent as a trusted and valued payment method.”
Sydney Ifergan, the crypto expert tweeted: “Tether (USDT) are exploring every possible avenue to ease out transactions and improve on preserving value using crypto. Users excited.”
Tether stated that they have just surpassed a $15 billion market capitalization. This they have to say has happened in just one month, the market cap for Tether has increased by more than $3 billion, thus maintaining its number one spot being the most liquid, stable and trusted currency.
Tether was recently appreciated for being supportive of the wider Tether community and for recently recovering US$1 million USDt which was sent to the wrong DeFi address.
Matthew Alexander, Compliance Analyst at tether, very recently published about how stablecoins promote transparency and more equitable markets and on how they facilitate a new path to financial stability.
Matthew Alexander pointed to an important fact by stating: “As the legal identity of Bitcoin and other digital assets continues to be forged by an interplay of various domestic regulatory agencies’ interpretations, headway is being made. Once labelled “evil” by a Nobel Prize-winning economist, bitcoin has since proven itself critically valuable to law enforcement in the arrest of high-profile hackers.”
Thus rubbishing naysayers of cryptocurrency. Matthew Alexander argued that the stablecoins have got the potential to improve the global financial stability, while improving on the stability of individual and household finances.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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