Bitcoin payments company and remittance app, Strike, has announced the integration of Tether’s USDT – the world’s largest stablecoin.
This announcement follows Strike’s expansion into 65 additional countries and the newly designed USDT-supported app, which was announced at Bitcoin 2023.
Integration of Strike and Tether
The integration aims to tackle key challenges hindering the widespread adoption of cryptocurrencies, including the volatility of crypto-assets.
The combination of the stability and utility of USDT with Strike’s payment solutions is expected to serve as a reliable bridge between the crypto world and traditional financial systems, while minimizing exposure to price fluctuations.
Tether has stated that users will be able to swiftly convert their digital assets into fiat currency by using its stablecoin as an intermediary and overcome “liquidity challenges that have previously hindered adoption.”
Tether’s CTO, Paolo Ardoino, commented “This is a pivotal moment for the cryptocurrency industry as it signifies the growing acceptance and recognition of stablecoins as a reliable and efficient digital payment solution.”
Strike’s Expansion
Strike has expanded its app to 65 countries, ramping up its total addressable market to almost 3 billion people. The app now supports 47 new countries, including Bhutan, Brazil, Ecuador, Guatemala, Honduras, Kenya, New Zealand, Paraguay, and Uganda, in addition to previously announced expansions into Argentina, Nigeria, Kenya, and Ghana.
Earlier this year, Strike partnered with fintech giant Fiserv to integrate Bitcoin’s lightning network with the point-of-sale terminal provider Clover. The digital payments platform also integrated with e-commerce giant Shopify to allow merchants to accept Bitcoin payments seamlessly in US dollars last November.
