CandleFocus Bitwage CEO: Stablecoins Have Been a Lifesaver for Argentines
2024-10-02
Author: Content Editor
Bitwage CEO, Jonathan Chester, has revealed that stablecoins have played a crucial role for Argentine remote workers who receive payments from employers abroad. He stated that 70% of Bitwage's Argentine users utilize stablecoins, such as USDT and USDC, to acquire dollars and protect their salaries in a high-inflation environment. Chester emphasized that stablecoins have increased net wages by up to 50% for some workers. Argentina has become a stablecoin stronghold in Latin America, with reports indicating that the nation led stablecoin purchases in the region in 2023.
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