Strike integrates Tether USDT into its app

Strike, the Lightning Network-based payments app operator, announced the integration of the stablecoin Tether (USDT) with its platform.

Tether (USD₮) to be Integrated onto @Strike ,Leading Global Money Apphttps://t.co/PsWFHluo1y pic.twitter.com/XcFeclliP1

— Tether (@Tether_to) May 22, 2023

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\”This partnership marks a significant leap toward broad cryptocurrency adoption, as it addresses several key problems facing the industry,\” the company said.

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The integration of USDT eliminates for Strike clients the risk of volatility of digital assets, offering a bridge between cryptocurrencies and traditional financial systems, the firm believes.

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\”By using the Tether stablecoin as an intermediary, users gain the ability to quickly convert their digital assets into fiat currency, overcoming liquidity issues that had hindered deployment,\” the statement says.

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Partners described the key feature of the integration as fast, secure and efficient payments that allow users to send and receive funds worldwide in a matter of seconds.

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At the Bitcoin 2023 conference, Strike founder and CEO Jack Mallers said the firm is expanding access to the app to more than 65 countries with a population of around three billion. Previously the company had only operated in the United States and El Salvador.

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we goin global ???

the global money app for fast, safe payments and #bitcoin is now available for 3 billion people in 65+ countries

open networks win ⚡️ https://t.co/Jsa81kT6pb pic.twitter.com/PaLiCjcMl3

— Strike (@Strike) May 23, 2023

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In September 2022, Strike raised $80 million in a Series B financing round to expand partnerships, scale the business and support efforts to improve payments.