Tether, the most widely used stablecoin in the world, has announced a new integration with Strike, a leading global money app that allows users to send and receive money instantly across borders. This integration will enable Strike users to access Tether’s liquidity and stability on various blockchains, including Bitcoin, Ethereum, Bitcoin Cash, and Solana.
Tether and Strike: The Best of Both Worlds
The stablecoin Tether is a cryptocurrency that is tied to the U.S. dollar at a 1:1 ratio, meaning that each Tether token is backed by one U.S. dollar in reserve. It aims to provide a bridge between traditional and digital finance, offering a fast, cheap, and transparent way to transfer value across different platforms and markets.
Strike is a mobile payment app that leverages the Bitcoin network to enable instant and low-cost cross-border transactions. Users can link their bank accounts or debit cards to the app and send or receive money in any currency, including Bitcoin. It also offers rewards and discounts for using its service, such as cashback on purchases and free international ATM withdrawals.
The integration of Tether and Strike will allow Strike users to benefit from Tether’s features and advantages, such as:
- Access to the largest stablecoin network in the world, with support for multiple blockchains and protocols.
- Ability to send and receive Tether tokens across borders without intermediaries or conversion fees.
- Exposure to the global crypto market and its opportunities, such as trading, lending, borrowing, and investing.
- Protection from volatility and inflation risks, as Tether tokens are backed by U.S. dollars and audited regularly.
Tether Keeps Solidifying Its Presence
This move will also benefit Tether by expanding its user base and reach, as well as enhancing its interoperability and compatibility with other platforms and services. Tether’s co-founder, Paolo Ardoino, said:
“We are delighted to announce this integration with Strike, a company that shares our vision of making cross-border payments faster, cheaper, and more accessible. By integrating Tether into Strike’s platform, we are providing users with a seamless way to move money across different currencies and blockchains.”
Strike’s CEO, Jack Mallers, said:
“Tether is a pioneer and a leader in the stablecoin space, and we are thrilled to integrate it into our app. Tether will enable our users to access the most liquid and stable digital currency in the world and to take advantage of the opportunities that the crypto ecosystem offers. Together, we are making money more open and inclusive for everyone.”
