Tether Partners MiniPay To Scale USDT Distribution

Tether is partnering MiniPay to grow its stablecoin network further.

It is announced that both USDT (fiat-backed) and XAUT (gold-backed) stablecoins will now be available for stablecoin settlement and transfers in Opera's MiniPay wallet. They join the existing stablecoin used called cUSD, which is Celo's own stablecoin.

EVP of Mobile at Opera Jørden Arnesen expressed:

“Integrating USD₮ directly into MiniPay turns smartphone reach into real financial access. Millions of users are now holding, sending, and saving in digital dollars seamlessly, often for the first time. MiniPay brings stable, on-chain money to the people who need it most.”

Opera has done really well to build out a mobile first, self-custodial wallet that allows for instant stablecoin transfers. Users can sign up with a mobile number and spend and receive stablecoin balances from 40 different currencies, as well as across 60 different countries.

CELO AND MINIPAY LEAD STABLECOIN TRANSFERS

The network is built on Celo, a former layer 1 blockchain network that has since migrated to a layer 2 on Ethereum. It is substantial in the stablecoin payments space and accounts for roughly 26% of active Tether transaction counts on Ethereum with 700K active daily users according to GrowThePie data.

A recent interview with the founder revealed some very interesting insights about how they are thinking about stablecoin distribution, including special features like enabling onchain fx for better stablecoin conversion rates and lower fees.

With virtual accounts also added as a feature to some jurisdictions (EU SEPA and USA ACH) via its partnership with Noah, users are no longer restricted to the physical geography they are located or reliance on traditional banking wires that take days if not weeks to settle.

MiniPay is working so that underbanked and regular people can get paid and convert from stablecoins to their local currency with ease. According to MiniPay's website, there are now over 12.5M wallet addresses and around 360M transactions recorded from its debut.