Tether makes strategic investment in online marketplace Whop… "Introducing USDT payments"

Tether (USDT), the issuer of the dollar stablecoin, is investing in the online marketplace Whop.

Tether said on the 25th (local time) it has decided to make a strategic investment in Whop. Tether explained, "Whop is a platform where people create content, communicate, and transact in one place," adding that "(the investment) reflects a strategy to expand stablecoin infrastructure into real economic activity."

As a result of the investment, Whop will introduce payment functionality for USDT and Tether’s U.S.-exclusive stablecoin, USAT. A Tether official said, "Through Whop’s global network, millions of users will be able to use faster and more efficient dollar payment services with USDT or USAT," adding that "these advantages will stand out in markets where legacy payment systems create unnecessary friction and costs."

Paolo Ardoino, Tether’s chief executive officer (CEO), stressed that "(crypto) wallets and stablecoins are most powerful when they are directly integrated into people’s lives." Ardoino said, "Through the investment in Whop, we will support real economic activity by providing efficient digital-dollar and wallet infrastructure," adding that "this is a scalable solution for billions of people."