The integration of USDT with Strike’s payment solutions aims to overcome the challenges that hinder the widespread adoption of the cryptocurrency industry, particularly the issue of volatility. By combining the stability and practicality of USDT, Strike hopes to create a dependable link between the crypto realm and conventional financial systems, while minimizing exposure to price fluctuations.
Tether released a statement on Monday, indicating that its stablecoin will serve as an intermediary enabling users to convert their digital assets into fiat currency promptly. This move aims to overcome the “liquidity challenges” that have previously impeded the adoption of digital assets.
Paolo Ardoino, the CTO of Tether, expressed his enthusiasm regarding the recent integration with Strike, stating that it is a significant milestone for the cryptocurrency industry. He believes that the integration of stablecoins, such as Tether (USD₮), with payment solutions like Strike, highlights the growing acknowledgment and acceptance of stablecoins as a dependable and efficient digital payment alternative.
Furthermore, the executive emphasized that the partnership between Tether and Strike has the potential to promote the extensive adoption of digital currencies. The collaboration is expected to stimulate innovation and establish a more comprehensive financial ecosystem that caters to all individuals.
Strike has recently revealed its plans to expand its application to over 65 countries, which is a significant increase from its current presence in the United States and El Salvador. This expansion will enable the company to target a larger market of almost three billion individuals. The list of supported countries now includes 47 additional nations, such as Brazil, Ecuador, Kenya, Paraguay, and Uganda, among others. This expansion is in addition to previously announced plans to expand into countries like Argentina, Nigeria, Kenya, and Ghana.
At the beginning of this year, Strike collaborated with Fiserv, a leading fintech company, to integrate Bitcoin’s lightning network with Clover, a point-of-sale terminal provider. In November of last year, the digital payments platform also partnered with Shopify, a major e-commerce company, to facilitate the seamless acceptance of Bitcoin payments as US dollars by merchants. Recently, Strike has added support for Tether’s USDT, as reported on CryptoPotato.
