Tether’s USDT Supports Strike Transactions

Strike, a digital payment platform, has incorporated Tether's USDT stablecoin into its system, as stated in a press release on May 22.

Tether's USDT Supports Strike Transactions
Tether's USDT Supports Strike Transactions

Strike, a digital payment platform, has incorporated Tether’s USDT stablecoin into its system, as stated in a press release on May 22. This integration intends to facilitate swift, secure, and effective transactions for Strike users while promoting the utilization and acceptance of USDT.

On the Bitcoin lightning network, Strike enables users to transfer BTC globally with exceptional speed. With the addition of USDT, this payment application allows users to share their cryptocurrencies without concerns about price fluctuations.

“With Tether’s stablecoin as an intermediary, users gain the ability to convert their digital assets into fiat currency swiftly, overcoming liquidity challenges that have previously hindered adoption.”

Tether’s Chief Technology Officer, Paolo Ardoino, remarked that the integration represents a significant acknowledgment and endorsement of stablecoins as a dependable and effective digital payment option.

“We believe this collaboration will foster the widespread adoption of digital currencies, driving innovation and creating a more inclusive financial ecosystem for all,” he added.

In the meantime, Strike expressed that this decision would fundamentally change the cryptocurrency industry’s structure and create fresh opportunities for effortless digital transactions.

As per a Forbes article, CEO Jack Mallers stated that the company opted for USDT instead of USDC, backed by Circle, due to the need for more trust people have for Circle outside the United States.

Availability of Strike

Jack Mallers, the CEO of Strike, announced on May 19 that the company’s presence has extended beyond the United States, El Salvador, and Argentina, encompassing over 65 countries.

The CEO stated that the company intends to relocate its headquarters to El Salvador, a nation known for its favorable stance towards Bitcoin.

Simultaneously, the expansion initiative will enable Strike to enter untapped markets in Africa, Latin America, Eastern Europe, Asia, and the Caribbean. Notable countries where the company plans to operate include Zambia, Antigua and Barbuda.

By undertaking this expansion, Strike aims to reach nearly 3 billion individuals, bolstering the global adoption and usage of cryptocurrencies.


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