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Bitcoin payment provider, Strike, has expanded its services to 65 countries, including dollar payments via Tether (USDT) outside the US, following a relocation of its global headquarters to El Salvador. The company previously only offered mobile payments in the US, El Salvador, and Argentina. Strike aims to counter the “clouded world of crypto exchanges and hidden, unregistered licensing regimes and 1,000 different coins.” The move to El Salvador is in response to growing anti-crypto regulatory sentiments in the US, which has prevented Strike from providing its services in New York. CEO Jack Mallers hopes to launch new features by the end of 2023, including a debit card.
This article originally appeared on cointelegraph.com
Strike, a mobile-first challenger bank, has announced its decision to move its global headquarters to El Salvador in Central America. The disruption fintech firm, which was founded in New Zealand, said that moving its headquarters to El Salvador would enable it to take advantage of the country’s pro-crypto regulation, specifically its adoption of Bitcoin as a legal tender.
This move will also help the company to expand its services to several countries as it plans to enter sixty-five new countries, including Europe and Latin America, making it one of the fastest-expanding startups in the industry. Strike made this announcement on a day when the adoption of Bitcoin as a legal currency becomes effective in El Salvador.
The company’s Chief Executive Officer, Jack Mallers, stated that by moving their operations to El Salvador, they are aligning with the country’s vision of using technology to promote financial inclusion and economic growth. In addition, the company is looking forward to working with El Salvador’s government to implement its plan of making the country a hub for cryptocurrency innovation.
With Bitcoin becoming a legal tender, more companies will be drawn to El Salvador, creating a cryptocurrency-friendly environment that attracts blockchain companies from across the globe. Strike’s move to El Salvador highlights an increasing trend among technology startups, which are increasingly taking advantage of favorable regulations and business environments elsewhere in the world.
Since its launch in 2018, Strike has been disrupting the financial industry with its innovative approach to digital banking. It aims to provide a fairer, cheaper, and transparent alternative to traditional banking. Currently, Strike has over a million users, and by expanding to 65 new countries, it will greatly increase its market to serve even more people.
In conclusion, Strike’s move to El Salvador represents a significant milestone in the fintech industry. The decision to establish its global headquarters in El Salvador is a positive step towards embracing cryptocurrency and blockchain technology’s potential to drive economic growth and financial inclusion. The move is also a testament to El Salvador’s pro-crypto environment, which has the potential to make the country a hub for cryptocurrency innovation, attracting other startups in the industry. With this expansion, Strike will provide a more transparent and cost-effective banking method for people globally.
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