Strike Arrives in Argentina Backed by USDT, But No Bitcoin Integration Yet – Bitcoin News

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Bitcoin-based wallet and exchange service Strike launches in Argentina, bringing USDT Incorporate domestic users. Strike’s CEO, Jack Mallers, explained that his goal of bringing the app to the country has to do with giving Argentines a platform to hold a stable cash value.The value will be saved in the following form USDT, at least at launch without the option to store Bitcoin.

Strike Brings Stablecoin Integration to Argentines

Strike is a popular Bitcoin-based wallet that has been launched in Argentina, giving Argentines a new way to store their savings through stablecoins. Announcing the development, Strike CEO Jack Mallers explained that as the country’s citizens are experiencing financial distress, people are turning to foreign currencies such as the U.S. dollar.

Mallers said:

There is now an unprecedented need for an open monetary system that exists in a distributed network, has a known monetary policy, has a fixed supply, and is censorship resistant.

Malles further explain Strike will offer a “stable cash balance in its Argentine instalments that can be used immediately and at no cost.”

powered by USDT

While Strike is best known for its Bitcoin and Lightning Network capabilities, it launched in Argentina USDT as its backbone.Some people think it’s weird local average Considering that Mallers has been a big proponent of the Bitcoin ecosystem, and Strike has implemented these services elsewhere, including savior.

Current version of the app used in Argentina USDT, a popular stablecoin issued by Tether as the backbone to store value for users. USDT With a market capitalization of over $78 billion, it is the most valuable stablecoin project in the entire cryptocurrency market.This USDT The version that Strike uses is an ERC20 token using the Ethereum blockchain.

However, since Strike is a custodial wallet, users don’t have to deal with the high fees that currently plague some Ethereum users, as transactions using Strike are free. The wallet explained in its terms of service that Bittrex is used for custody of assets and that the company is not responsible for custody of cryptocurrencies in its wallet.

What do you think of Strike’s launch in Argentina? Let us know in the comments section below.

sergio@bitcoin.com'

Sergio Goshenko

Sergio is a cryptocurrency journalist in Venezuela. He describes himself being late to the game, entering the crypto space when prices rose in December 2017. With a computer engineering background, living in Venezuela, and being affected by the cryptocurrency craze on a social level, he offers a different perspective on the success of cryptocurrencies and how it can help the unbanked and underserved.

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