Exclusive: Bitwage partners with Argentinian UFC fighter Guido Cannetti

Invezz can exclusively report that Bitwage has partnered with Argentinian UFC fighter Guido Cannetti.

Following the partnership, Guido will receive all his salary in USDC stablecoin through the Stellar Network on the Vibrant wallet app using Bitwage.

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Inflation in Argentina

Inflation has become a brutal reality for Argentinians since it is reducing the purchasing power of their local currency. A majority of Argentinians have been left in a position where they are desperately looking for ways of preserving the value of their hard-earned money.

This is where stablecoins come in and the USDC stablecoin which can be exchanged 1:1 for the US dollar offers a good opportunity for the likes of Guido.

By using  USD Coin (USDC) stablecoin on Stellar Network, a reliable and resilient blockchain, Argentines can access USDC with low-cost transactions and near-instant payments.

Commenting about his move to get paid in USDC, Guido said:

“I am getting paid in USDC because it is safer for my future, and Bitwage is the best option to do this. Their customer service, their product, and everything about them works great for beginners like me.”

In a rejoinder, Jonathan Chester, the CEO of Bitwage said:

“We love partnering with athletes and influencers on deals like this because it pushes the needle forward on crypto adoption. Whether it’s bitcoin or a stablecoin like USDC, it’s our goal to create good financial products in the crypto ecosystem while also making them ubiquitous in the everyday lives of workers around the world. We believe everyone should have an opportunity to earn their wages quickly and securely in order to preserve the value of their work.”

Other athletes that use Bitwage

Besides Guido, there is a long list of athletes that have joined the list of ambassadors supporting Bitwage.

Some renowned athletes that currently use Bitwage for their crypto payroll services include UFC fighters Luana Pinheiro and Matheus Nicolau, US soccer players Achara Infunanyachi and Alex Crognale, and American football player Alex Barrett.