Guido Cannetti to Become First Argentine Athlete to Receive Salary in USDC Stablecoin, The crypto payroll company Bitwage has announced that they partnered with a recent UFC fighter to be able to pay him in stablecoin.
Vibrant, a company located in the US and operating on the Stellar blockchain, will give Guido Cannetti 100% of his salary in USD Coin. The co-founder of Vibrant cited the importance of stablecoins to Argentine workers.
According to the announcement, Guido Cannetti will receive 100% of his salary in USDC via Vibrant, an app that was developed on Stellar.
USDC Is Safer
Bitwage is excited to partner with Cannetti. They will be paying their athletes in USDC via Stellar. We are excited about the partnership and all the benefits that it brings to Bitwage and its customers. Cannetti said:
“Getting my salary in Bitwage is what I need for my future. It’s easier to transfer and safer than other payment methods. With them, I can pay bills and everything else that needs money”.
Guido Cannetti to Become First Argentine Athlete to Receive Salary in USDC Stablecoin
The first Argentine athlete to receive a salary in stablecoin was Guido Cannetti—another milestone of the adoption of cryptocurrencies as a means of payment.
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“It’s great to see more and more professional athletes using cryptocurrency. These individuals are some of the most cutting-edge people in the world, and their fans look up to them for guidance on new technology”.
In the past, Bitwage has cooperated with UFC fighters Luana Pinheiro and Matheus Nicolau, soccer player Alex Crognale, and American football player Alex Barrett.
“We’re always looking for new use cases for our service and are thrilled to welcome Guido Cannetti as the first martial arts fighter to be paid his full salary in cryptocurrency. We hope that by working with more athletes, we can help bring crypto one step closer to the mainstream. Bitwage is committed to the goal of making crypto and blockchain technology widespread. We believe that our partnership with athletes and influencers will push crypto adoption forward. Whether it is bitcoin or a stablecoin, we want to make sure people can find financial products tailored to their needs both in the crypto ecosystem and in their everyday lives.” Bitwage CEO Jonathan Chester said.
Bitwage recent update to its payroll service now offers access to a USD-backed stablecoin, USDC. Having been trusted as low risk for years, it allows Argentines to exchange it for 1:1 US Dollars and use it with quick, low-cost transactions on the Stellar Network.
The inflation this year in Argentina is 78.5%. Prices were 56.4% higher in the first eight months of the year. The country’s central bank predicts that there will be a 95% inflation rate by the end of the year. Some private analysts forecast an inflation rate of 100% by 2022.
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