May 22, 2023 at 16:10 GMTModified date: May 23, 2023 at 09:37 GMT
May 22, 2023 at 16:10 GMT

Strike Integrates USDT in Move to Expand Globally

Strike, the global Bitcoin payments app, has announced its integration with Tether’s $USDT stablecoin, a move that will strengthen its global expansion.

In a significant development, Strike, the renowned global Bitcoin payments app, has announced its integration with Tether’s USDT stablecoin, a move that will strengthen its global expansion efforts​.

The integration of Tether into the Strike app unlocks a range of possibilities, enabling users to access USDT on-ramps, off-ramps, and settlements seamlessly. This latest development comes just two days after Strike’s successful expansion into 65 new countries, further broadening its reach beyond its initial base in the United States, Argentina, and El Salvador​.

USDT, a stablecoin pegged to the US dollar, offers users a reliable and predictable value for their transactions. With the integration of Tether into the Strike app, users can now benefit from the stability of a traditional currency while enjoying the advantages of instant Bitcoin transactions enabled by the app’s Lightning Network technology. As part of this integration, Strike will store “cash” amounts belonging to clients located outside of the United States in USDT rather than any other fiat currency​.

The integration of Tether into Strike brings several key features to the platform. 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, pushing forward 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. Paolo Ardoino, CTO of Tether, commented on the development, 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.”

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

This partnership between Strike and Tether marks a significant milestone in the ongoing journey to enhance the utility of cryptocurrencies and their integration into the global financial system. As Strike continues to expand its footprint globally, the addition of USDT support on its platform reaffirms the company’s commitment to providing fast, secure, and innovative payment solutions to its users worldwide.