Fun

Strike Arrives in Argentina With USDT Support, No Bitcoin Integration Yet

News Feed - 2022-01-13 05:01:26

Strike Arrives in Argentina With USDT Support, No Bitcoin Integration Yet


Strike, a bitcoin-based wallet and exchange service, has landed in Argentina, bringing USDT integration to users in the country. Jack Mallers, CEO of Strike, explained that his objective for bringing the app to the country has to do with providing a platform for Argentinians to hold a stable value in cash. This value will be held in the form of USDT, with no option for storing bitcoin, at least at launch. Strike Brings Stablecoin Integration to Argentinians


Strike, a popular bitcoin-based wallet, has launched in Argentina, bringing a new way for Argentinians to store their savings via stablecoins. The announcement of this development was made by Strike CEO Jack Mallers, who explained that due to the financial woes the citizens of the country are experiencing, there is a migration to foreign currencies such as the dollar.


Mallers stated:


There is now unprecedented demand for an open monetary system that lives within a distributed network, has a known monetary policy, a fixed supply, and is resistant to censorship.


Mallers further explained that Strike, in its Argentinian installment, will offer “a stable cash balance that can be spent both instantly and with no fees.” Powered by USDT


While Strike is known for its Bitcoin and Lightning Network capabilities, it launched in Argentina with USDT as its backbone. This was considered strange by some local mediaoutlets, considering that Mallers has publicly been a big supporter of the Bitcoin ecosystem, and that Strike has implemented these services in other locations already, including El Salvador.


The current version of the application for Argentina uses USDT, the popular stablecoin issued by Tether, as a backbone to store value for users. USDT has a market cap of more than $78 billion dollars, being the most valuable stablecoin project in the whole cryptocurrency market. The USDT version that Strike uses is an ERC20 token, which uses the Ethereum blockchain.


However, as Strike is a custodial wallet, users won’t have to deal with the high fees that are plaguing some ethereum users currently, as transactions using Strike are free of charge. In its terms of service the wallet explains that Bittrex is used for the custody of the assets, and that the company is not responsible for the custody of the cryptocurrency in its wallet. Tags in this story Argentina, Bitcoin, El Salvador, Jack Mallers, lightning network, Strike, USDT


What do you think about the launch of Strike in Argentina? Tell us in the comments section below. Sergio Goschenko


Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved. Jack Dorsey Introduces Bitcoin Legal Defense Fund to Protect Open Source Developers NEWS | 4 hours ago Digital Yuan Wallet Ranks Among Most Downloaded Apps in China NEWS | 15 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleJack Dorsey Introduces Bitcoin Legal Defense Fund to Protect Open Source Developers Next articlePanther Partners With ShapeShift to Add Interoperable Privacy to DeFi and Web3 Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItEthereum Has Burned 1.2 Million ETH in 4 Months, Close to $5 Billion in Ether Destroyed


With three days left until the end of 2021, the Ethereum network and its native token ether have had a phenomenal year as ether has increased more than 450% in value in 12 months. 145 days ago, on August 5, ... read more.Tokenized Bitcoin in Circulation Nears a Half Million BTC, Bitcoin-Pegged Token Value Exceeds $21 Billion Crypto Scammer Arrested in Bangkok After Fleeing With 500 Million Baht Ethereum Hashrate Taps Record-Setting 1 Petahash as ETH’s Mining Profitability Remains High Bank of Russia Wants to Restrict Crypto Investments by Blocking Card Payments, Report Reveals

News Feed

Nigerian Crypto Users and Enthusiasts Dismiss 100% BTC Premium Claims
Nigerian Crypto Users and Enthusiasts Dismiss 100% BTC Premium Claims Nigerian blockchain and crypto enthusiasts have said recent reports suggesting that local residents are paying
Speculation Rife as User Pays a Second $2.6 Million Fee in Ether Transaction
Speculation Rife as User Pays a Second $2.6 Million Fee in Ether TransactionHistory repeated itself on Thursday, after the Ethereum blockchain processed another transfer with fees o
Mark Zuckerberg says Meta wearables that read brain signals are coming soon
Martin Young2 hours agoMark Zuckerberg says Meta wearables that read brain signals are coming soonThe new neural technology that Meta is developing will be “pretty wild,” said Zuckerberg, adding its first application
US trading app Robinhood launches ‘crypto transfers’ in Europe
Helen Partz15 hours agoUS trading app Robinhood launches ‘crypto transfers’ in EuropeRobinhood users in Europe can now deposit and withdraw crypto using external wallets and exchanges like Binance.1437 Total views9 T
Francisco Rodrigues9 hours agoPay and dump? How businesses accepting crypto payments influence adoptionCrypto payments are often seen as a way to boost adoption, but is adoption growing if the business sells crypto right
Iran Legalizes Crypto Mining Within Days of a Chinese Plea for ‘Better Conditions’
Iran is legalizing crypto-mining, giving a boost to this activity which was already booming despite the unfavorable position of the authorities.According to the Iran Chamber of Comm
Rapper 50 Cent claims X account was hacked to promote celeb memecoin
Ciaran Lyons1 hour agoRapper 50 Cent claims X account was hacked to promote celeb memecoinRapper 50 Cent informed his 32.8 million Instagram followers that hackers used his X account to carry-out a multimillion-dollar me
Final arguments begin in COPA case against Craig Wright over BTC claims
Derek Andersen4 hours agoFinal arguments begin in COPA case against Craig Wright over BTC claimsThe Crypto Open Patent Alliance has attempted to show that Wright cannot be Bitcoin inventor Satoshi Nakamoto and make him s
Bastyon Inventor Daniel Satchkov Explains the Importance of Using an Open Source Social Media Platform
Bastyon Inventor Daniel Satchkov Explains the Importance of Using an Open Source Social Media Platform Bastyon.com is a social platform built on the Bitcoin foundation. It is decen
Mining City: A New Opportunity for the New Year
Mining City: A New Opportunity for the New Year Mining City’s growth throughout 2020 has been significant. With an easy-to-use website, thousands of commun
Tokenized Bitcoin on Ethereum Crosses $11 Billion Notional, WBTC Commands 76% of Circulating Supply
Tokenized Bitcoin on Ethereum Crosses $11 Billion Notional, WBTC Commands 76% of Circulating Supply According to data on August 7, there’s 253,510 bitcoin-
Helen Partz13 hours agoCoinbase suspends 80 non-USD trading pairs to improve liquidityCoinbase crypto exchange has been removing dozens of trading pairs in an effort to improve liquidity on its platforms.3923 Total views