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Strike will be hoping to leverage Tether’s stability as a reliable store of value to appeal to more clients globally.
Strike, a global payments platform built on Bitcoin‘s Lightning Network, has added support for Tether (USDT). By integrating the world’s largest stablecoin, users of the Strike app may now carry out USDT on-ramps, off-ramps, and settlements within the platform.
According to Tether CTO Paolo Ardoino, work is still in progress regarding which blockchains will back the integration of USDT on the platform. However, he hints that “it will be a mix of most used chains”.
Regardless, users will now be able to enjoy both the benefits of instant Bitcoin transactions and the stability of a traditional currency.
Strike Keen on Global Expansion with USDT
Without any doubt at all, Strike’s integration of Tether’s USDT is part of its broader efforts to gain ground internationally. Recall, USDT is the largest stablecoin in the world. According to CoinMarketCap data, it has a total supply of over 86 billion coins. So, Strike will be hoping to leverage Tether’s stability as a reliable store of value to appeal to more clients globally. In line with this aim, Strike founder, Jack Mallers said:
“Everyone on planet Earth should have easy access to money that can’t be inflated by governments and a payments network that can’t be influenced by intermediaries.”
More so, the integration also comes barely two days after Strike announced its expansion into 65 new countries. Thus, indicating a significant effort to broaden its reach which was only limited to the United States, Argentina, and El Salvador.
According to Mallers, instant payments and easy access to Bitcoin is a reality that billions of people want to experience. He further added that bringing that reality to fruition has been the main mission of Strike since it was founded in 2020.
So, while the company plans to launch its app in more markets in the future, in the meantime, it appears to be focused on expanding its offerings and providing users with improved flexibility and ease of access as regards their finances.