Crypto News: Strike, the renowned global money app known for its fast and secure payment solutions, has recently announced the integration of Tether (USDT) onto its platform. As a leading digital payments platform built on Bitcoin’s Lightning Network, Strike continues to expand its offerings and provide users with enhanced financial capabilities.
Strike Integrates Tether’s USDT
According to the official announcement, the integration of Tether into the Strike app unlocks a range of possibilities, enabling users to seamlessly access USDT on-ramps, off-ramps, and settlements. This development comes just two days after Strike’s successful expansion into 65 new countries, significantly broadening its reach from its initial base in the United States, Argentina, and El Salvador. With the app’s Lightning Network technology, users can now instantly send and receive Bitcoin, making transactions even more faster.
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USDT, which is a stablecoin pegged to the US dollar, offers users a reliable and predictable value for their transactions. By incorporating Tether into the Strike app, users gain access to the stability of a traditional currency while enjoying the benefits of instant Bitcoin transactions. Moreover, the paperwork provided by the firm states that, as part of the agreement, Strike will store “cash” amounts belonging to clients located outside of the United States in USDT rather than any other fiat currency.
How Will Crypto Benefit?
The integration of Tether brings several key features to the Strike platform. Firstly, it enables users to conduct fast, secure, and efficient payments, facilitating seamless fund transfers globally. The combination of Strike’s Lightning Network compatibility and Tether’s stability bridges the gap between traditional financial systems and cryptocurrencies, furthering the integration and acceptance of digital assets.
As per Tether’s official statement, this collaboration empowers users by providing them with a user-friendly interface and innovative payment solutions while leveraging Tether’s stability as a reliable store of value. While speaking about the new development, Paolo Ardoino, CTO of Tether, was quoted as saying:
One of the main obstacles hindering the widespread acceptance of cryptocurrencies is their volatility. By integrating Tether (USDT), users can leverage the advantages of digital assets while minimizing exposure to price fluctuations.
“We believe this collaboration will foster the widespread adoption of digital currencies, driving innovation and creating a more inclusive financial ecosystem for all”, he further added.
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