Bitcoin Wallet Strike Aims to Reach 3 Billion Users in Global South Expansion

Bitcoin payments company and remittance app, Strike, has announced its availability for download in over 47 countries, including India, South Korea, Sri Lanka, Bhutan, Brazil, Ecuador, Guatemala, Honduras, Kenya, New Zealand, Paraguay, and Uganda, among others. The international expansion aims to provide better payment tools and technology to those who need them the most, particularly in the global south. Strike leverages the Bitcoin lightning network to enable fast and immediate Bitcoin and dollar-based remittances worldwide. The lightning network is a layer 2 network that bypasses the fees of Bitcoin‘s base chain, which can rise to levels that make small transactions infeasible when placed under stress. Strike CEO Jack Mallers stated that the company aims to give the global south access to a “money app,” rather than an existing “exchange” like Binance, FTX, or Coinbase, which encourages “speculative gambling.” Strike also supports Lightning Address, which allows users to set up an email-like identifier for sending Bitcoin over lightning, rather than using a QR code. Mallers stressed the importance of expanding access to Bitcoin and remittance services to the global south, where it has the most significant impact. Strike’s expansion was a two-and-a-half-year effort, which partly involved working with regulators in El Salvador’s Bitcoin Office to create a licensing structure for Bitcoin companies to legally operate. Strike is headquartered in El Salvador, the first country besides the United States to support the company. In previous announcements, Mallers revealed that Strike was partnering with Shopify and NCR, the largest point-of-sale payment provider in the United States, to let users of Bitcoin’s lightning network pay with Bitcoin at popular stores like Walmart, McDonald’s, Home Depot, and others.

J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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