Bridging crypto and everyday payments: Tether and Ripe partner to expand USDT utility in Asia
Announcing a new collaboration between Tether, the issuer of the USDT stablecoin, and Ripe, a platform enabling stablecoin payments via existing fiat QR codes.
A new collaboration between Tether, the issuer of the USDT stablecoin, and Ripe, a platform enabling stablecoin payments via existing fiat QR codes, is set to significantly expand the usability of USDT for everyday transactions in Asia, starting with the Philippines. This strategic partnership aims to connect the world of cryptocurrency with the dominant payment method in Southeast Asia: QR-based fiat payments.
For many individuals in Southeast Asia, particularly in countries like the Philippines, earning and spending in stablecoins has become increasingly common, often through avenues like trading, gaming, and international freelance work. However, a significant hurdle has been easily converting these digital earnings into usable local currency for daily expenses without relying on costly and time-consuming traditional methods or grey market brokers.
This is where the Ripe-Tether partnership offers a compelling solution. Ripe's innovative technology allows crypto users to seamlessly pay with USDT at merchants who already accept traditional QR-based fiat payments. The key is that merchants do not need to adopt any new systems; they continue to receive fiat currency in their existing e-wallet accounts, such as GCash in the Philippines. This integration means that USDT can be accepted at millions of merchants from day one.
The user experience is designed for simplicity. Users can pay directly from their crypto wallets (like Phantom, OKX, or Bitget) by accessing Ripe in the wallet's browser tab. They simply scan any merchant’s QR code, enter the amount in the local currency (PHP in the Philippines), and verify the transaction in their crypto wallet.
This collaboration not only provides a practical utility for USDT, encouraging users to hold and spend stablecoins rather than immediately converting them to fiat, but it also aims to drive direct user acquisition and increase Tether usage in the local merchant ecosystem. Ripe is able to facilitate these transactions and disburse fiat to e-wallets through partnerships with licensed entities in the Philippines, ensuring compliance with local regulations.
Both Tether and Ripe see significant strategic value in this partnership, including expanding their presence in the Philippine market and providing a low-cost, high-impact method for user education on stablecoin utility. The collaboration will be promoted through online campaigns and in-person events, including engagement with local crypto and web3 educational organizations.
Ultimately, this partnership represents a key step in making stablecoins more accessible and useful in daily transactions across Asia, leveraging the widespread adoption of QR code payments to bridge the gap between digital currencies and everyday commerce.
