Tether partners KriptonMarket to facilitate stablecoin access

Monday 22 May 2023 09:28 CET | News

Tether has partnered with on/off ramp solution KriptonMarket to provide users in Argentina with stablecoin access at the Central Market of Buenos Aires.


The Central Market of Buenos Aires is an important retailer of fruits and vegetables in Latin America, and it includes 900 wholesale merchants and 50 retail merchants according to the official press release. The collaboration between Tether and KriptonMarket comes in the context of Argentina’s rising inflation, which has reached a new high at 104% after accelerating unexpectedly over the course of a few months. 

The partnership between the two entities aims to enable the aforementioned merchants to accept USDT payments, pay bills directly with USDT via KriptoPayments, and pay a percentage of employees’ salaries in USDT. 

The official press release also reveals that the Central Market of Buenos Aires employs more than 2,000 people in its wholesale and retail merchant stores and restaurants. The Central Market collaborates with more than 600 farms and large merchants to bring in orders of produce such as fruits and vegetables, of which more than 100,000 tons are sold each month. 

While the main scope of Tether’s partnership with KriptonMarket is to support financial freedom through on-chain payment opportunities, the two companies will also launch a series of educational courses to inform and inspire both blockchain enthusiasts and business professionals. It’s worth pointing out that the programme is regulatory-compliant in Argentina.  

Tether officials talked about this joint endeavour and mentioned the continued devaluation of Argentina’s currency, as well as the need to uncover and support new solutions that can help people achieve financial freedom. They also talked about financial discrimination and how state-of-the-art blockchain technologies can help combat it.


Tether has partnered with on/off ramp solution KriptonMarket to provide users in Argentina with stablecoin access at the Central Market of Buenos Aires.


More information about Tether’s stablecoin

According to Forbes, stablecoins such as Tether represent low-volatility digital assets that usually maintain a steady valuation. The value of a stablecoin is pegged to a stable asset such as gold, the US dollar or another fiat currency, which means the coin is trying to maintain the same value as its peg. 

Tether (USDT) is the largest stablecoin by market capitalization. Crypto traders use stablecoins to perform transfers between different cryptocurrencies or to move their investments into or out of fiat currencies. The value of USDT is pegged to the US dollar, which means Tether should be unaffected by the volatility that can impact the values of other cryptocurrencies such as Bitcoin or Ethereum. 

Crypto traders can also use stablecoins to provide steady, reliable liquidity to get in and out of cryptocurrency trades without having to worry about losses caused by volatile price changes.

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Keywords: cryptocurrency, partnership, stablecoin, digital payments, blockchain
Categories: DeFi & Crypto & Web3
Companies: KriptonMarket, Tether
Countries: Argentina
This article is part of category

DeFi & Crypto & Web3




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