Tether, the popular stablecoin, has established an alliance with the firm KriptoPayments to enable a new form of payment in the Central Market of Buenos Aires. This collaboration will allow more than 900 wholesale merchants and 50 retail merchants to accept payments with the USDT stablecoin through the KriptoPayments payment gateway. In addition, it has been agreed that market employees can receive a percentage of their salary in USDT. This initiative seeks to provide relief to Argentines in the midst of the inflationary crisis facing the country, offering solutions based on blockchain technology.
Payments with USDT arrive at the Central Market of Buenos Aires.
The company behind Tether, in partnership with KriptoPayments, has provided merchants in the Central Market of Buenos Aires with the ability to bill payments using the USDT stablecoin.
This collaboration will allow a more efficient flow of transactions and provide merchants with a safe and stable alternative for managing their income. The KriptoPayments payment gateway will play a key role in facilitating the acceptance and processing of USDT payments in the largest wholesale market in Latin America.
Relief to Argentines in the midst of the inflationary crisis.
The inflationary situation in Argentina has led many citizens to seek more stable financial alternatives, such as stablecoins. USDT’s 1:1 parity with the US dollar has made this stablecoin especially attractive to Argentines.
With this new form of payment in the Central Market of Buenos Aires, Tether and KriptoPayments seek to offer relief to the population, allowing them to use a more stable and inflation-resistant currency in their daily transactions. Paolo Ardoino, CTO of Tether, highlights that the successful implementation of USDT in this market can set a precedent for its adoption around the world.
The Central Market of Buenos Aires and its economic importance.
The Central Market of Buenos Aires is one of the largest wholesale markets in Latin America, employing more than 2,000 people and being a neuralgic point for the economy of the city and its surroundings. Founded in 1984, this market covers more than 300 hectares and specializes in the distribution of fruits, vegetables, meats and other fresh products from the region. In addition to its economic relevance, the market is also an important center of tourism and culture, hosting various activities and events. The fact that this market adopts USDT payments represents a significant step towards the expansion of cryptocurrencies in the daily life of Argentines and highlights the growing importance of blockchain technology in the commercial sector.
The alliance between Tether and KriptoPayments to enable USDT payments in the Central Market of Buenos Aires marks an important milestone in the adoption of cryptocurrencies in Argentina. In the midst of the inflationary crisis and the difficulties to access stable currencies, the incorporation of USDT as a form of payment provides merchants and market employees with a safe and reliable alternative to carry out transactions.