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News

Strike Integrated Tether To Enable Fast, Safe, And Efficient Payments

May 22, 2023 - Around 3 mins mins to read
  • Strike, a digital payment processor, will incorporate USDT, Tether’s biggest stablecoin.
  • The payment platform users will benefit from quick, secure, and efficient payments as a result of the integration.
  • The merger came soon after the USDT issuer declared that it was purchasing Bitcoin with realized profits.
Strike, a Bitcoin Lightning Network-based payments platform, has introduced support for Tether’s USDT, the world’s biggest stablecoin.
Strike integrates Tether’s USDT for payments

According to a press release issued on May 22, the integration intends to facilitate quick, secure, and efficient payments for Strike users while also increasing the usage and acceptance of USDT.

Strike is a payment platform based on the Bitcoin lightning network that allows users to send BTC to anyone in the globe at lightning speed. By including USDT, the money app allows its customers to transfer their cryptocurrencies without fear of volatility.

“By combining the stability and utility of Tether’s digital currency with Strike’s innovative payment solutions, users will experience a new era of secure and efficient transactions. This collaboration signifies a significant leap toward mainstream adoption of cryptocurrencies, as it addresses several key challenges faced by the industry,” the company said in its blog post.

The news comes only two days after Strike released its app in 65 additional countries, expanding beyond its former base in the United States, Argentina, and El Salvador. Using the Lightning Network, the software enables users to send and receive Bitcoin in real-time. Users may also transfer money and acquire Bitcoin over the site.

Tether’s CTO, Paolo Ardoino, stated:

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

USDT, a stablecoin linked to the US dollar, provides consumers with a dependable and predictable value for their transactions. According to the documents furnished by the company, Strike will keep “cash” quantities belonging to customers situated outside of the United States in USDT rather than any other fiat currency as part of the agreement.

Tether‘s integration adds numerous important capabilities to the Strike platform. Strike’s Lightning Network compatibility, combined with Tether’s stability, bridges the gap between established financial institutions and cryptocurrencies, advancing the integration and adoption of digital assets.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.