Speaking at the Bitcoin 2023 conference in Miami, the U.S.-based Bitcoin payment app Strike's CEO Jack Mallers announced that the platform expanded its services to 65 countries in Africa, Latin America, Eastern Europe, Asia, and the Caribbean from just three. Before the expansion, the platform was operational only in the U.S., El Salvador, and Argentina. - The expansion made the app address a market involving nearly 3 billion people.
- Strike's vice president of product, Manuela Rios, said their end goal is to address the 7 to 8 billion people in every country.
- The platform also integrated a new user interface to simplify and improve the onboarding experience, along with the ability to hold funds in Bitcoin (BTC) and Tether (USDT).
- The firm moved its headquarters to El Salvador, where Bitcoin became legal tender in September 2021, citing the anti-crypto regulatory environment in its native U.S.
- Mallers implied that El Salvador introduced crypto-inclusive regulations to boost technological innovation in the country, while the U.S. regulations prevented Strike from offering its services in certain states, including New York.
- In the new markets, Strike users will be only able to buy Bitcoin, and U.S. dollar (USD) payments will only be possible through the stablecoin USDT outside the U.S.
- The platform plans to launch new features and services, including a debit card, in the new markets by the end of the year.
- Strike offers global payment and cross-border money transfer services using the Bitcoin network and Bitcoin's Layer-2 scaling solution, Lightning Network allowing for cheaper and faster transactions.
- The platform is one of the first crypto companies to receive licenses in El Salvador to operate in the Central American country alongside the crypto exchange Bitfinex.
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