- Guido will receive his complete salary in USDC stablecoin.
- Guido Cannetti is among the athletes who support Bitwage.
- Luana Pinheiro and Matheus Nicolau (UFC fighters), Achara Infunanyachi and Alex Crognale (U.S. soccer players) and Alex Barrett (American football player) depend on Bitwage for crypto payroll services.
Argentinian Ultimate Fighting Championship fighter, Guido Cannetti, has become the country’s first martial arts athlete to receive his entire salary in stablecoins, as announced by Bitwage, the crypto payroll company. Reportedly, Bitwage has collaborated with Cannetti.
You thought we were done? Nope. Far from it.— Bitwage (@Bitwage) September 26, 2022
We're proud to introduce *another* athlete ambassador, Argentinian UFC fighter @ninjacannetti.
Hailing from a country ravaged by inflation, Cannetti knows how important it is to secure the value of your wealth with #crypto. pic.twitter.com/jlRFcjbsbB
The news is surprising as this has happened at a time when inflation is rising and the country’s economy is falling.
As reported, Guido, who is also known as El Ninja, will get his salary in USD coin or USDC stablecoin. The payment will happen on Vibrant through the Stellar Network.
Based on the official government figures, the inflation during the 12 months through August was 78.5%, whereas during the initial eight months, prices were up 56.4%. A 95% inflation rate for 2022 has been estimated by Argentina’s central bank. However, certain private analysts have predicted an inflation rate of 100% for this year.
In his statement, Cannetti, said that the reason behind him getting paid in USDC is the safety of his future and that he is also prone to the devaluation and volatility of local currency.
As per Americas Market Intelligence survey conducted on Argentine consumers in the month of April, 51% of them bought crypto while 27% regularly bought cryptocurrencies, which was up from 12% adoption at the end of last year.
Meanwhile, Jonathan Chester, CEO of Bitwage, said that they like to associate with influencers and athletes regarding such deals as it encourages more people to adopt crypto. Be it stablecoins or bitcoin, they aim to establish worthy financial products besides making them universal in the regular lives of workers on a global level. Bitwage believes in providing everyone an opportunity to receive their income quickly & safely, as it encourages them to preserve the value of their work.