Quickbit App, which previously supports the use of seven cryptocurrencies, now also supports the use of Tether (USDT). Tether follows the value of the US dollar and is classified as a stablecoin.

Tether was launched 2014 and is the third largest cryptocurrency in the world in terms of market value*. What distinguishes Tether is that it is a stablecoin, the value of which is linked to the USD. This means that its volatility is in line with US dollars. 

Expanding the offering of cryptocurrencies to include Tether is an important step in Quickbit’s efforts to continue to simplify the use of cryptocurrencies in people’s everyday lives. Today’s launch means that users through the Quickbit App can now buy, sell and exchange Tether. Users will currently not be able to send or receive Tether to and from external cryptowallets.

“I am very happy that we are launching the cryptocurrency Tether today. It is an important part in our ambition to create a robust ecosystem of crypto-related products and services that together can take a larger part of our users’ everyday finances. With a stablecoin, we give our users the opportunity to reduce their exposure to volatility in cryptocurrencies, but at the same time stay in the cryptocurrency economy”, says Hammad Abuiseifan, CEO Quickbit.

For further information, please contact:

Hammad Abuiseifan, CEO

Tel: +46 73 095 87 12
hammad@quickbit.com

*Source: CoinMarketCap, February 28, 2022

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Quickbit is a Swedish fintech company, founded in 2016 with the goal of making the integration of cryptocurrencies into the everyday lives of people and companies smoother. Today, Quickbit offers safe and easy-to-use products for e-merchants as well as customers. With a transaction volume to date in excess of €900 million, Quickbit has already enabled and empowered individuals around the world, through the use of cryptocurrencies. Quickbit has been listed on NGM Nordic SME since July 2019. For more information, please visit www.quickbit.com