The CTO of the Bitfinex cryptocurrency exchange and Tether called the USDT stablecoin a tool of freedom and a way to use bitcoin in real life.
AT interview with Cointelegraph journalists Paolo Ardoino (Paolo Ardoino) said that he spoke at the Oslo Freedom Forum with a report on the use of stablecoins to ensure freedom. He recalled that Tether was adopted by the shadow government of Myanmar as the official currency.
“Tether has become one of the tools used by countries in crisis, whose national currency is devaluing and its citizens want to save their savings in the face of insane inflation. Bitcoin is great, but they need long-term price stability. Bitcoin is well suited for many applications, but not everyone understands it,” said Ardoino.
He also recalled that in countries such as Turkey and Argentina, where the rates of national currencies are rapidly falling, it is cryptocurrencies that have become the way out for many to save their savings.
Also, CTO Bitfinex did not forget about El Salvador, where bitcoin was recognized as legal tender. He compared El Salvador with Lugano, where, as part of a special test, BTC and USDT are actually accepted for payments:
“Bitcoin is for everyone. You see people in a poor country using bitcoin as their basic financial infrastructure. On the other hand, in a rich country with the most banks in the world, people still need bitcoin.”
Recall that Tether recently announced the launch of the USDT stablecoin on the Tezos blockchain.
Source: Bits
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