Strike is bringing the Bitcoin lightning network to Argentina as the CEO Jack Mallers noted that crypto development could give more hope to the people of Argentina as we are reading further in our latest Bitcoin news today.
The popular digital wallet Strike is bringing the Bitcoin lightning network to Argentina and as a result, the company aims to grant superior financial experience to a country that faces a higher level of inflation and other monetary issues. Jack Mallers confirmed the news and opined that BTC could give hope to the people of Argentina despite being the third biggest economy in Latin America but it was battling high inflation levels for years.
🇦🇷 Welcome, Argentina! 🇦🇷
Today, we launch a superior financial experience to a country that faces hyperinflation, predatory payment networks, and unusable cross-border transfers
— Jack Mallers (@jackmallers) January 11, 2022
According to a separate statement, the CEO classified the South American state as one of the best places for building the BTC economy. Strike’s launch will enable Argentineans to hold a cash balance that can be spent both instantly and with no fees. Mallers also described BTC as a superior monetary system that brings basic human freedoms. Strike is working with individuals and businesses in Argentina. The company already launched initial services to a few residents and Strike also quadrupled the team in the region.
The start-up promised to continue expanding to other countries in South America like Brazil and Colombia. Mallers noted:
“Bitcoin is the first and only monetary network in human history that works everywhere and is open to everyone. It functions in New York, San Salvador, and Buenos Aires equally. We’ll continue expanding throughout all of Latin America and globally until everyone has reliable access to the world’s best monetary network.”
The company launched a mobile payments app in El Salvador six months before accepting BTC as a legal tender inside the borders. Mallers described the move as a shot hear round for BTC. The executive claimed that the development will unleash the potential of the leading crypto for daily use cases on the open network which benefits individuals and businesses.
As recently reported on Argentina and the crypto sector, Vitalik Buterin went to Buenos Aires to see the rates of inflation and the ETH community embraced the creator to their country. Vitalik said that it is much more than he expected about the Ethereum community in Argentina. Even more, than he has seen in the world so far and shouted out several projects with Argentinian roots. He also noted that the country has an amazing amount of talent and a real need for blockchain technology because the web3 is solving problems in the country.
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