Strike Expands Crypto Wallet to Argentina, But It Only Holds Tether

After inspiring El Salvador’s government to adopt a Bitcoin standard, Strike is expanding its operations to another central American country. Yesterday, CEO Jack Mallers announced Strike’s launch in Argentina and were set to act as a cost-effective remittance service using Bitcoin. However, it would seem that in-wallet assets are stored in neither dollars nor BTC, using Tether instead. Strike’s Significance In Argentina Mallers revealed his company’s expansion in a tweet on Tuesday, alongside a thread explaining its significance. “Today, we…

Dai’s Trading Volume in Latin America Surges During Pandemic

More people in Latin America have shown interest in Dai over the previous several months due to the economic troubles aggravated by the coronavirus pandemic. The local news outlet iProUP reported that the trading volume of MakerDAO’s stablecoins was four times during quarantine in Argentina, as it became $20 million daily from $5 million. This shows that Latin America is moving to the Safety of Dollar-Pegged Stablecoins because of the absolute debt and hyperinflation. Hence, the people chose to deal with…