Popular bitcoin (BTC) payment app Strike, which uses Lightning Network for fast transactions, is adding support for tether (USDT), the largest stablecoin on the market. This means that it will be possible to buy, sell and pay USDT via the Strike app.
Tether (USD₮) to be Integrated onto @Strike ,Leading Global Money Apphttps://t.co/PsWFHluo1y pic.twitter.com/XcFeclliP1
— Tether (@Tether_to) May 22, 2023
Strike makes grapid developments
The news follows two days after the launch of the Strike app in 65 countries. The app was previously only available in the United States, Argentina and El Salvador. This makes it a lot easier for a large audience to make payments with bitcoin. They can also immediately use the speed that the Lightning Network offers.
So now Strike also adds support for USDT. According to Paolo Ardoino, Tether’s CTO, the integration allows users to seamlessly leverage USDT. In a declaration Tether highlights the potential of being stablecoin and emphasizes the importance of the partnership with Strike:
“This user-friendly approach aligns with Tether and Strike’s commitment to democratize finance and promote inclusivity on a global scale.”
Record profit for Tether
A week ago, Tether published another one record profit of $1.48 billion. The stablecoin company then also revealed reserves in gold and bitcoin. Nevertheless, Tether was recently criticized again for not auditing the reserves. Without transparency, it is difficult to verify Tether’s statement.