Tether Launches PearPass Payments Product in Auckland for Merchants

Key Takeaways

Tether launched a new payments and identity product called PearPass.
The rollout begins in Auckland, targeting merchants using stablecoins.
The move extends Tether’s reach beyond issuing digital tokens.

AUCKLAND (EtherX) - Tether on Tuesday launched PearPass, a payments and digital identity product, as Tether news tied to altcoins highlighted the stablecoin issuer’s effort to expand real-world merchant use.

Why It Matters

PearPass combines wallet-based payments with built-in identity verification, as regulators increase scrutiny of stablecoin transactions and merchants seek faster settlement and clearer compliance processes.

Product Details

Tether said PearPass will initially support USDT and operate across multiple blockchains, allowing merchants to accept payments without adding new hardware.

"PearPass is designed to connect payments and identity in a single tool that merchants can deploy without new hardware," Tether Chief Technology Officer Paolo Ardoino said.

The company did not disclose pricing or revenue projections for the product.

Market Context

More than $110 billion worth of USDT is currently in circulation, making Tether the largest stablecoin issuer globally and a focal point for regulatory oversight.

Industry analysts said the launch places Tether in closer competition with fintech payment firms and crypto wallet providers offering merchant services.

Stablecoin payments only scale if merchants see lower costs and predictable rules, said Auckland-based payments consultant James Liu.

Rollout Plans

Tether said pilot programs are underway with selected retailers and online platforms in New Zealand, with discussions ongoing in Asia-Pacific and Latin America.

The company declined to comment on whether PearPass would be offered directly to consumers or only through partner platforms.

Tether said PearPass will undergo security audits before wider deployment but did not provide a timeline.

Market Reactions: Adoption Watch

Investors and merchants will focus on early usage data, including merchant sign-ups and transaction volumes, over the coming months to gauge whether PearPass can move stablecoin payments beyond niche crypto markets.