UpdatesMay 21, 2023

Strike moves its headquarters to El Salvador

The popular payment service provider appreciated the favorable cryptocurrency regulations in the Central American country.

A well-known company that deals with payments in the oldest digital currency, as well as offering a money transfer application - Strike recently announced that it has moved its global headquarters to El Salvador. In 2021, this country implemented legal regulations that established Bitcoin (BTC) as legal tender in its territory. What's more, the company has also expanded its services to another 65 countries, announcing that Strike is now available for download to over 3 billion people around the world!

Strike is expanding its services to another 65 countries

The world-renowned BTC payment and remittance company, headquartered in Chicago, announced on Friday, March 19 that its mobile app is now readily available for download to over 3 billion people around the world! This is directly related to the international expansion of the aforementioned financial company into dozens of new countries.

During the Bitcoin 2023 event in Miami, the CEO of Strike - Jack Mallers announced to the public that the company's efforts to reach even more users were primarily aimed at those people who today most need access to modern financial technologies and new payment solutions.

The list of countries whose residents will be able to download the application and use the Strike services includes countries such as Brazil, Kenya, New Zealand, Honduras, Paraguay, Uganda, Ecuador, Bhutan and Guatemala. Earlier, Strike representatives announced plans to expand to Argentina, Nigeria and Ghana as well.

Strike will enable fast and cheap payments in Bitcoin using the Lighting Network (LN) in the near future. This is the so-called layer two developed for the BTC network, which easily allows the Bitcoin community to make transactions outside the main chain.

Strike moves global headquarters to El Salvador

During the same industry conference, the CEO of Strike additionally announced the relocation of the company's global headquarters to a country that was the first in the world to make BTC legal tender in its territory. It is worth noting that this decision was a direct response to the ever-growing anti-cryptocurrency sentiment in the United States.

El Salvador is characterized by laws that, in essence, are extremely favorable to digital currencies, and thus these regulations attract technological innovations and entrepreneurs related to them. What's more, Jack Mallers also drew attention to the unprecedented success of El Salvador related to the adoption of BTC in terms of factors such as the growth of tourism.

In the first stage, Strike will allow users in new global markets to use the oldest cryptocurrency. However, the company has already announced that by the end of this year, new users will be able to use other features, including debit cards. It is worth being aware that in the near future this financial company will allow its customers to make payments outside the US also in US dollars via Tether (USDT).

Finally, we cannot forget the fact that Strike, along with the Bitfinex exchange, was one of the first companies operating in the digital currency sector to obtain a cryptographic service provider license in El Salvador.