biCredit view:Strike is phasing out USDT in El Salvador-based bitcoin remittances

Strike, a startup that built a Bitcoin-based payment system in El Salvador, is phasing out Tether’s USDT stacecoin as an alternative to the US dollar, Strike CEO Jack Mallers said on June 22, 2021.

Strike is now in the process of integrating with five of the country’s largest banks and two of the largest ATM distributors, Mallers said. People will be able to exchange physical cash for mobile app balances and vice versa. Consolidation could eliminate the need for USDT as an alternative to the dollar, since Strike would be able to hold customers’ balances at the bank.

The btc is not stable, the price of the electricity consumption and mining need to environmental pollution became one of the main causes of recent currency tumble.

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