HONG KONG, CHINA--(Marketwired - Apr 14, 2015) - Tether (www.tether.to), the first blockchain-enabled platform to allow fiat currency to be used like Bitcoin, today announced its integration with GoCoin, a leading international blockchain payments processor. This partnership not only expands GoCoin's coin portfolio at checkout with Tether, it also enables its merchants transacting with Bitcoin, Litecoin and Dogecoin to quickly settle those payments with Tether instead of costly bank wires. For the first time, merchants will be able to transact entirely in cryptocurrencies without the need to settle payments through banks, and without fear of losing value because of market fluctuations or delays from tracing lost wires.
Tether is a secure platform that allows deposited US dollars (and soon euros, Japanese yen and other fiat currencies) to be converted into 1-to-1 backed tetherUSD and held in online or offline wallets.
"By utilizing Tether's unique business model of linking digital currency to in-hand reserves, we're able to stabilize value fluctuations for our merchants, making digital currency even more appealing to them," said Steve Beauregard, GoCoin's CEO.
Currently in private beta, each tether is backed 1-to-1 by its corresponding currency, which can be viewed and verified in real-time via the Tether.to website and on the blockchain. Tether will be fully transparent and audited to demonstrate 100 percent reserves at all times. The near-zero fees for creating and redeeming tethers, and zero-fee transfer ability, incentivizes rapid adoption and widespread use.
"We're proud to add such a respected name as GoCoin to our list of partners," said Reeve Collins, co-founder and CEO of Tether. "We know both GoCoin and its customers will find peace of mind now that they can achieve the low transaction costs of digital currency with the stability of dollars."
About Tether
Tether is disrupting the legacy financial system by offering a more modern approach to money. By introducing fiat currency to the Bitcoin blockchain, Tether has made a significant contribution to a more connected Bitcoin ecosystem and added Bitcoin benefits, such as price stability, to traditional currency. With a commitment to full transparency and compliance, Tether is the most secure, fast and low-cost way to transact with money. For more information, please visit https://tether.to.
About GoCoin
GoCoin is a global leader in blockchain payments and innovation. GoCoin honors Bitcoin, Litecoin, Dogecoin and Tether at checkout, and merchants can settle accounts in established fiat, including USD, GBP, Euros and now TetherUSD. Founded in July 2013, GoCoin has raised over $2 million in funding led by Cryptocurrency Partners LLP, Bitfury Finance Ltd. and Bitcoin Shop, Inc. (