The collaboration will allow over 500 companies in Argentina to accept and pay bills with USDT, as well as pay a percentage of employee salaries with the stablecoin.
its benchmark interest rate to 97%, but tight monetary policy does not appear to be bold enough to curb price escalation.
Argentina’s 1-year inflation rate. Source: Trading Economics, Instituto Nacional de Estadística Y Censos “With the continuing devaluation of their nation’s currency, the people of Argentina need solutions to pursue their own financial freedom. If we are able to contribute to the well-being of an entire country through the state-of-the-art technologies provided by the blockchain, we will be one step closer to ending the fight against financial discrimination,” said Paolo Ardoino, chief technology officer of Tether.
In a recent interview with Cointelegraph, Daniel Fogg from IOV Labs, the foundation behind smart contract platform Rootstock, said thatin crypto adoption, as people look to cryptocurrencies as a safe haven against macroeconomic shocks. “For me, if you want to look at the future of what I hope crypto will become, it exists today in Turkey, Colombia, Nigeria, Argentina. It doesn’t exist today in the United States or the U.K.," he noted.
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