Strike Expands Bitcoin Payments To 3 Billion People In Over 65 Countries

Strike has made an announcement stating that its download is now available to more than 3 billion individuals worldwide, with the inclusion of numerous additional countries. The CEO of the company, Jack Mallers, shared this news at the Bitcoin 2023 conference held in Miami Beach, Florida, on Friday.

Strike Expands Bitcoin Payments To 3 Billion People In Over 65 Countries

Strike, a Bitcoin payment company founded in Chicago, has announced that its download is now accessible to over 3 billion people worldwide, with the addition of numerous nations.

The CEO of the company, Jack Mallers, shared this news at the Bitcoin 2023 conference held in Miami Beach, Florida, on Friday. Mallers explained that the decision to relocate the company’s headquarters to El Salvador was a response to the increasing regulatory opposition towards cryptocurrencies in the United States.

As part of its global expansion, Strike has extended its services to 65 countries and shifted its worldwide headquarters to El Salvador.

This expansion enables wallet users in various countries, including India, South Korea, and Sri Lanka, to send payments to each other in both USD and BTC. During Mallers’ presentation, he mentioned 47 supported nations, such as Bhutan, Brazil, Ecuador, Guatemala, Honduras, Kenya, New Zealand, Paraguay, and Uganda, in addition to previously announced additions like Argentina, Nigeria, Kenya, and Ghana. Previously, the mobile app was only available in the United States, El Salvador, and Argentina.

Jack Mallers, the CEO and founder of Zap, Strike’s parent company, emphasized that the growth effort aims to address the opaque world of crypto exchanges and unregistered licensing regimes, along with the existence of thousands of distinct currencies.

Mallers stated that the decision to shift the company’s offices to El Salvador was driven by the increasing anti-crypto regulatory attitudes in the United States. While regulatory rules prevent Strike from operating in New York, El Salvador has embraced crypto-inclusive regulations to foster technological innovation in the region.

Amid the legal uncertainties facing the US crypto sector and regulatory actions taken by the Securities and Exchange Commission against companies issuing unregistered securities, Mallers believes that Strike’s Bitcoin-first strategy is validated.

During the Bitcoin 2023 conference in Miami, Mallers highlighted that the company’s growth efforts primarily target individuals who are in need of improved payment methods and technology. This expansion is expected to extend Strike’s reach to over 3 billion people, expanding its entire addressable market.

The Strike app offers global payment and cross-border money transfer services using Bitcoin and Lightning, a secondary network that enables faster and more affordable Bitcoin transactions. The updated app provides users with a fresh new experience and allows them to save money in Bitcoin (BTC) and Tether (USDT).

About Strike

Strike, developed by Zap Solutions, Inc., is a payment application enabling users to effortlessly send funds globally via the Bitcoin Lightning Network. Jack Mallers, the founder, is actively expanding the app’s services worldwide. With Strike, users can conveniently pay one another, purchase goods and services online, engage in micropayments, tip content creators, and engage in Bitcoin buying and selling activities.

The Bitcoin Network facilitates on-chain transactions every ten minutes, allowing approximately 2,700 transactions per day, or 4 to 7 transactions per second. To enhance transaction capacity, the Bitcoin Lightning Network acts as a second layer solution built on top of Bitcoin, enabling millions of Bitcoin transactions per second.

While Strike is not a conventional exchange, it falls under the exchange category because app users can pay themselves in Bitcoin. This involves connecting a commercial bank account, transferring funds to the Strike app, and generating a Lightning invoice through third-party Lightning wallets like Bluewallet or Muun Wallet. This process caters more to users already familiar with the Lightning Network.

Company’s primary goal is to facilitate convenient and cost-free transactions on a global scale. Here are the key features that Strike offers to its users:

Flexible Funding: Users can initiate a funding request in Strike and transfer funds from their third-party wallet. As a result, they will have more fiat in Strike and less bitcoin in their wallet.

QR Code Scanning: The ability to scan QR codes enables swift and seamless payments.

Micropayments: Users have the capability to conduct transactions as low as $0.01 by scanning the QR code and simply clicking “pay.”

Strike Rewards Card: Through its partnership with VISA, Strike will introduce a rewards card that allows users to earn cash back when making purchases with participating merchants.

Security: App has implemented top-notch security measures, adhering to industry standards, to safeguard user accounts and protect against potential threats.

Customer Support: With a dedicated support team, the company ensures that users receive prompt assistance in resolving any issues or concerns they may encounter.

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