Reading time: ~ 2 m
Strike has announced the official launch of its financial product in Argentina. Thus, the Latin American state became the third after the United States and El Salvador, where the firm’s cryptocurrency application is available. Analysts suggested that this could mark the beginning of a path towards legalizing cryptocurrencies in the country.
Strike chief Jack Mullers said Argentina is a country with a huge number of economic problems. For example, hyperinflation or inefficient payment networks. He noted that the inflation rate in the country is now one of the highest on the planet. The expert said that 50% of the population is poor.
Market analysts emphasized that most of the country’s citizens do not trust national money and prefer savings in US dollars (USD). The government had to devalue its currency, as well as impose restrictions on foreign circulation. The country’s leadership has initiated the implementation of the so-called “Impuesto País”. Now all citizens are forced to pay a 30% commission for USD exchange transactions.
Strike will enable residents of Argentina to spend and convert their assets quickly and without commissions. Mullers suggested that the government might eventually recognize cryptocurrencies as legal tender. The technology company will try to help stabilize the economic situation in the South American state.
However, the expert said that it is too early to draw premature conclusions. Strike will try to help the citizens of Argentina, but there is no need to wonder what will happen next. He assured that his organization is the supplier of the best advertising in the world – money.
Earlier, the editorial staff of Crypto.ru reported that the social network Twitter has signed a partnership agreement with Strike. This was necessary in order to integrate cryptocurrency transfers into the functionality of the service.
#Argentina #thinking #legalization #cryptocurrency #payments
