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HomeCrypto NewsMarketStrike Raises $80 Million to Revolutionize Bitcoin Payments

Strike Raises $80 Million to Revolutionize Bitcoin Payments

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Global Payments Facilitator, Strike, Has Raised $80 Million Funding To Advance Innovative Payment System For Consumers And Merchants.

Strike raised $80 million to further its innovative goals of easing global payments on the Bitcoin Lightning Network.

Since its launch, Bitcoin’s Lightning Network has remarkably improved the original chain. It has greatly improved the network’s processing speed, even winning over the support of popular entities like Strike. The strike is a global payment processor that currently runs on the LN.

Now, Strike plans to expand its operations to ease payment processing for merchants and consumers. The funding round was led by Ten31, an investment company. Other interested parties included Washington University and the University of Wyoming.

Speaking on the new development, Ten31’s co-founder, Grant Gilliam, said,

“Strike and Ten31 have a shared vision for the positive impact Bitcoin can have on the world and are mutually aligned on accelerating its adoption… We believe Strike is poised to disrupt the financial services and payments landscape, enabling a more efficient, innovative, and inclusive financial experience for everyone.”

Strike Has Launched A New API

Just recently, Strike launched an API that brought onboard many of the world’s largest eCommerce and POS (Point Of Sale) systems like NCR, Shopify, and Blackhawk. With this integration, users can now use their cards to pay or receive funds faster over the LN via Strike. This will also save on processing fees. Over 70 million Cash App users will now be able to send and receive instant payments via the Bitcoin Lightning Network.

Talks Ongoing With More Partners, as Strike plans to use the funds to strengthen its current systems, develop more innovative solutions, and expand its base by onboarding more partners.

Strike’s Innovative Payment Processing

Strike also plans to venture into new fields, encompassing the provision of payment facilitation services to large businesses and financial institutions.

“… We can empower businesses to move money in ways networks such as card networks and SWIFT can’t.”

Being a pretty popular global payments system, Strike boasts over 2 million downloads of its App. Users can use the app to send funds to any corner of the world, enjoying its speed, cost-effectiveness, and convenience. The strike was recently praised by Jack Dorsey and other bigwigs in the market for enabling McDonald’s, Walmart, and Starbucks to start accepting Bitcoin payments.

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Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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