Strike, a layer 2 Lightning Network-based digital payment platform, revealed on Friday that it is now accessible for installation to over three billion individuals globally, including dozens of nations.
Strike to Expand Operations in India, Sri Lanka, and More
In particular, wallet users in India, South Korea, Sri Lanka, and other countries will be able to send payments from one country to another in both USD and BTC as a result of the worldwide expansion.
Strike CEO Jack Mallers highlighted at Bitcoin 2023 in Miami that the firm’s growth objectives were largely focused on individuals who required improved payment tools as well as technology most of all. “It’s a lot of the global south,” Mallers observed, adding:
“The global south has a lot to do with Bitcoin – they have a lot to say for where the world is going.”
47 Total Nations
During Mallers’ presentation, he listed 47 accepted nations, including Bhutan, Brazil, Ecuador, Guatemala, Honduras, Kenya, New Zealand, Paraguay, and Uganda, in addition to previously announced expansions like Argentina, Nigeria, Kenya, and Ghana.
Strike uses the Bitcoin lightning system to facilitate quick and swift Bitcoin and dollar-based transfers in these countries. Notably, the base chain costs of Bitcoin can increase to levels which render tiny transactions impractical while facing pressure, however the layer 2 network Lightning avoids these fees.
Strike Wants to Compete with Binance
Maller also emphasized the significance of providing the global south with access to a “money app,” as opposed to an existing “exchange” like Binance, FTX, or Coinbase, which fosters “speculative gambling.”
He said: “We wanna compete with Binance,” while further adding:
“We know that the 3 billion people we’re serving – they got their first experience and their first Bitcoin from FTX, from Binance, from a lot of these exchanges that haven’t been totally proven to be trustworthy.”
New Services in Africa
The company debuted a new capability in December to handle cross-border payments into Africa. As reported by TheCoinRise, the new “Send Globally” option would enable fast low-cost transfers into Africa.