USDT Becomes A Payment Tool In Argentina In Tether Cooperation With CryptonMarket

USDT is a transaction tool in Argentina thanks to the cooperation between Tether and CryptonMarket. (Photo; Doc. Coins.ph)

JAKARTA - Tether, the publisher of USDT stablecoin, collaborated with Argentina's leading fiat payment company CryptonMarket. The partnership allows local companies in Argentina to accept crypto payments in USDT stablecoins.

As is known, Argentinta's currency, peso has experienced high inflation of 104 percent. To overcome these financial problems, Tether and CryptonMarket present a new alternative to overcome peso inflation, namely the use of stable coins whose value is pegged to US dollars, USDT.

The collaboration between Tether and CryptonMarket will bring USDT acceptance to the Sentral Market of Buenos Aires, one of the largest fruit and vegetable markets in Latin America. The market consists of 900 wholesalers and 50 retail traders, who can also pay bills and some of their employee salaries using USDT, according to Tether's official statement.

This partnership is expected to help Argentine citizens in fighting rising inflation. The collaboration between Tether and CryptonMarket is expected to help wholesale and retail traders reduce intermediary costs.

"With the continued devaluation of their country's currency, the Argentine people need a solution to seek their own financial freedom. If we can contribute to the welfare of the whole country through advanced blockchain technology, we will be one step closer to ending the struggle against financial discrimination," said Paolo Ardoino, CTO Tether.

Not only that, Tether and KriptonMarket are also planning to present blockchain educational courses in Buenos Aires. This education is expected to raise the awareness of Argentine citizens regarding the importance of the technology underlying the digital asset.