KriptonMarket is working to improve access to stablcoin for Argentine users through Buenos Aires Central Market.
The company employs more than 2,000 people, selling 106,000 tons of fruits and vegetables for stabelcoins each month, involving more than 600 farms and retailers.
The Tether team said the partnership with KriptonMarket is a response to harsh criticism from regulators and officials who question the stability and stated reserves of USDT.
“With the continued devaluation of the national currency, Argentines need solutions to achieve their own financial freedom.
If we can contribute to the country’s well-being with the advanced technology provided by blockchain, we will be one step closer to ending financial discrimination,” explains Tether CTO Paolo Ardoino.
Tether and KriptonMarket are also going to launch educational courses in Buenos Aires to inspire a new generation of blockchain enthusiasts and business professionals.
Argentina is now the fifth most inflationary country in the world after Turkey, Syria, Lebanon and Venezuela.
Earlier, the Central Bank of the Republic of Argentina (BCRA) announced that it aims to reduce the financial risks that digital asset transactions can create.
The BCRA says the ban is a necessary safety measure to limit the penetration of digital assets in the country’s economy and protect investors from financial risk.
In April, Canadian mining company Bitfarms confirmed getting the necessary permits to connect electricity to expand production to 100 MW at its Rio Cuarto facility in Argentina.