Bitcoin Lightning Company Strike Offers Payments to 3 African Nations
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Strike Offers Payments to African Countries
According to a news release, the new function is supported by a collaboration with the African financial holding company Bitnob. The recipient's bank account, mobile money account, or Bitnob account receives the cryptocurrency payments that are quickly converted into naira, cedi, or shillings.
According to Jack Mallers, founder and CEO of Strike, high fees, sluggish settlement, and an absence of innovation in cross-border transactions have badly harmed the poor world. Payments firms are finding it difficult to operate in Africa due to the high costs of sending money in and out of the continent and the suspension of services by long-standing providers. As a result, individuals cannot send money to their loved ones back home.
Expansion by Seeking Collaborators and Mergers
With Strike, people have the chance to quickly and conveniently transfer US cash across international borders. Strike is trying to expand its work in Africa by seeking collaborations and mergers. In particular, it is considering collaborating with Chipper Cash, an African peer-to-peer and cross-border payment service provider. In September, the Lightning-focused Bitcoin payments company secured $80 million in a Series B fundraising round.