UQUID launches USDT payment for public transport in Argentina

3 months ago 28

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Buenos Aires, Argentina – July 29, 2024 – UQUID, a pioneer in Web3 shopping platforms, has introduced a new feature allowing users to top up their SUBE cards using USDT on the TRON blockchain. This new functionality aims to streamline how Argentine commuters manage their public transportation expenses, leveraging cryptocurrency for everyday transactions.

SUBE cards are pre-loadable wallets used for public transportation across Argentina. They allow users to pay fares for buses, subways, trains, trolleybuses, and ferries with ease. This system is widely implemented in Greater Buenos Aires, as well as over 60 other towns, including notable locations such as Bariloche, Ushuaia, and Mendoza.

Tran Hung, CEO of UQUID, expressed his enthusiasm for the service, stating, “Integrating blockchain into daily life is key to our mission of simplifying transactions. We chose USDT on TRON for its stability, low fees, and speed, making it ideal for LATAM users. After our success with SSS payments in the Philippines, we’re thrilled to bring this innovative solution for SUBE card top-ups to Argentina. Personally, I am excited to see how these advancements can enhance commuting and simplify financial transactions for our users“.

Dave Uhryniak, Leader of Ecosystem Development at TRON DAO commented, “We are excited about UQUID’s innovative integration of USDT on the TRON blockchain for topping up SUBE cards. This functionality demonstrates the practical utility of cryptocurrency in everyday life. By leveraging TRON’s stability, low fees, and speed, UQUID is setting a new standard for how digital assets can enhance convenience for users in Latin America.”

Transforming Public Transport Payments in Argentina

The SUBE card is essential for Argentina’s public transportation system. Traditionally, topping up these cards involved visiting physical locations like subway stations and kiosks, or using online banking platforms, often resulting in long waits and time-consuming processes.

Utilizing the TRON blockchain for SUBE card top-ups ensures rapid transaction times, allowing users to add credit almost instantly and eliminating the need for long queues. This convenience will enable commuters to top up their cards anytime and anywhere, particularly benefiting those with busy schedules or who travel during non-standard hours.

Transactions on the TRON network are known for their low fees, making it a cost-effective option for users. This enables commuters to maximize their travel budgets without incurring high transaction costs. USDT (Tether), a stablecoin pegged to the US dollar, provides a stable and reliable transaction value. In a high-inflation economy, this stability is crucial for maintaining the purchasing power of commuters’ funds. The integration of USDT on TRON for SUBE card top-ups democratizes access to transportation by providing an inclusive financial tool accessible to anyone with cryptocurrency, regardless of traditional banking limitations.

The adoption of USDT on TRON has been growing rapidly across Latin America, including Argentina. According to UQUID, nearly 48.78% of their users in Latin America utilize USDT on the TRON network for their purchases, highlighting the growing preference for TRON-based transactions in the region. This trend is driven by the need for stable and efficient financial solutions in regions experiencing economic instability. The low transaction fees, fast processing times, and stability of USDT on TRON make it an ideal choice for everyday transactions and savings.

This new feature represents a significant advancement in the use of blockchain technology for everyday financial transactions, offering a modern and efficient solution for Argentine commuters. It highlights the potential of cryptocurrency to provide practical, real-world benefits, reinforcing the growing trend of digital finance adoption in Latin America and beyond.