Tether, the world’s largest stablecoin maker by market capitalization, has joined forces with KriptonMarket. This collaboration seeks to revolutionize the means of payment for small businesses in Argentina, specifically focusing on the Central Market of Buenos Aires.
As one of the largest fruit and vegetable markets in Latin America, this association aims to introduce financial stability and empower independence within the market.
Argentina is dealing with skyrocketing inflation rates, reaching a staggering 104%. This has led to instability in budgeting and pricing for businesses and consumers.
Tether and KriptonMarket have partnered to introduce an innovative initiative to address this issue. This alliance aims to revolutionize the payment ecosystem of the Central Market of Argentina, benefiting wholesalers, retailers and even employees.
Through this collaboration, Tether and KriptonMarket will allow companies to accept USDT payments, settle USD invoices through KriptoPayments, and pay a portion of their employees’ salaries in USDT.
Tether wants the Argentine economy with blockchain from the hand of KriptonMarket
By leveraging cutting-edge blockchain technology, the main goal is to fight inflation and make digital payments easier, especially for small producers. This initiative is a potential model that can be replicated globally.
Paolo Ardoino, CTO of Tether, expressed optimism about the impact of this initiative, emphasizing Tether’s intention to provide a replicable solution worldwide.
With the continuous devaluation of the Argentine peso, it is crucial to offer the population alternatives to achieve financial independence. Tether believes that by leveraging blockchain-powered tools, they can positively transform the lives of an entire nation.
The Central Market of Buenos Aires, a key player in the regional economy, will benefit significantly from this partnership. The market is vital to Argentina’s agricultural sector, with more than 2,000 employees working in wholesale and retail stores and restaurants. It facilitates monthly sales of approximately 106,000 tons of products from more than 600 farms and large merchants.