Guido Cannetti, an Argentine Ultimate Fighting Championship (UFC) fighter is the country's first martial arts athlete to receive 100% of his salary in stablecoins.
He was paid in stablecoin USDC via the Stellar network on Vibrant* after successfully defeating local fighter Randay Costa in the United States.
* A wallet application developed by the Stellar team for Argentine citizens
This follows because USDC payments are more guaranteed for the future and safe from fluctuations and devaluation of the local currency, commented Cannetti.
According to government reports, Argentina's inflation in 12 months was 78.5% while prices in the first eight months increased 56.4%.
Meanwhile, Argentina's central bank predicts the inflation rate will reach 95% for 2022 and private analysts estimate 100%.
Through the Americas Market Intelligence survey, as many as 51% of Argentines have bought crypto and 27% regularly buy the digital asset.
The main factor behind 67% of respondents' purchases of cryptocurrencies was inflation protection.
For the record, USDC prices surged in July following the resignation of Martin Guzman as Minister of Economy.
