SGSS, a public institution serving official, unofficial and private sector employees in the Philippines, aims to support citizens in difficult times within the framework of legal obligation. SGSS, which currently manages two programs: social security and employee compensation, aims to reach citizens who are outside the traditional banking system with this new payment option.

Tether has partnered with leading Web3 exchange and infrastructure company Uquid to allow Filipinos to make SGSS payments using Tether on The Open Network blockchain. This collaboration expands the role of cryptocurrencies in our daily lives. Uquid CEO Tran Hung notes that the partnership with Tether highlights how stablecoins like USDT and “cryptocurrencies in general can simplify and improve our daily lives.”

Offering decentralized finance and crypto payment options using blockchain technology, Uquid is a leading platform that has reached a user base of more than 260 million in the last eight years. Tran Hung states that the Tether partnership is an important step in closing the gap between digital currencies and daily transactions and will further popularize crypto micropayments. This initiative, implemented with the support of Tether, is expected to set a new standard in terms of convenience and accessibility in digital shopping.

It is a fact that cryptocurrencies have moved towards mainstream use in recent years. In this field, stablecoins play the leading role as they provide price stability. Stablecoins, which started as a means of entry into centralized exchanges, have now become a key source of liquidity in centralized and decentralized markets.

In parallel with this development, payment platforms are also stepping into the cryptocurrency world. While PayPal launched its own stablecoin, PayPal USD, the company Ripple also announced plans to launch its own stablecoin in early 2025. These initiatives reveal that cryptocurrencies can be used not only as investment instruments but also for daily payments.

The active use of stablecoins in cross-border payments at the corporate level reveals the future potential of these digital assets. The fact that SGSS payments can be made with Tether in the Philippines is an important example showing that cryptocurrencies can be integrated with traditional financial systems. This innovation may pave the way for similar applications in other countries and strengthen the place of cryptocurrencies in our daily lives.

The social security payments application with cryptocurrency, implemented in the Philippines in partnership with Tether and Uquid, pioneers the expansion of the use of digital assets and their integration with traditional financial systems. This innovation re-emphasizes the future potential of cryptocurrencies and their role in our daily lives.