Guido Cannetti, an Argentinian Final Combating Championship (UFC) fighter, is now the primary martial arts athlete within the nation to obtain 100% of his wage in stablecoins, amid rising inflation and Argentina’s financial deteriorating, announced the crypto payroll firm Bitwage on Monday.

Dubbed El Ninja, he returns to the Octagon on October 1st in the US to face the native fighter Randy Costa. In accordance with Bitwage, Guido will obtain his fee in USDC stablecoin by way of the Stellar Community on Vibrant, a pockets utility developed by the Stellar workforce particularly for Argentines experiencing inflation.

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As per official authorities figures’, inflation within the 12 months by way of August was 78.5% within the nation, whereas costs within the first eight months of the yr have been up 56.4%. Argentina’s central financial institution predicted a 95% inflation charge for the yr, whereas some non-public analysts forecasted a 100% inflation charge in 2022.

“I get paid in USDC as a result of it’s safer for my future,” stated Cannetti in an announcement launched by Bitwage, noting that stablecoins will spare him from the volatility and devaluation of native foreign money.

Amongst Argentine shoppers surveyed by Americas Market Intelligence in April, 51% bought crypto and 27% recurrently purchased cryptocurrencies, up from 12% adoption on the finish of 2021. Inflation safety is the first purpose for 67% of respondents’ purchases of cryptocurrencies.

US dollar-pegged stablecoin prices surged in July following Martin Guzman’s abrupt resignation as Financial system Minister. His fiscal insurance policies aimed toward decreasing funds deficits and tightening financial coverage divided opinions in Argentina’s authorities. Within the nation’s black-market, the change charge was at 287 pesos per greenback at press time, in line with the web site DolarHoy.