Strike Announces USDT Support for Additional Global Bitcoin Reach

Strike has expanded to 65 additional countries enabling the company to reach 3 billion users.
The app now opened support for Tether USD (USDT) to serve customers better.
Strike’s app also now serves as a Lightning wallet with dollar equivalent options.

International Bitcoin (BTC) payments platform Strike shared significant milestones during the Bitcoin 2023 conference in Miami. Specifically, Strike’s services are now available in 65 additional countries spanning six continents.

Read CRYPTONEWSLAND on

google news

Alongside this expansion, Strike introduced the capability to receive funds in US dollar equivalents, specifically Tether USD (USDT). The company also unveiled a major overhaul of its app, featuring a cleaner user interface (UI), a more user-friendly experience (UX), and a new logo.

Many of the countries that were frequently requested by users on Bitcoin Twitter can now instantly send and receive money using the Lightning Network. Manuela Rios, Strike’s VP of Product, explained in an interview that the app now has an effective reach of 3 billion people.

Rios highlighted the value proposition of Strike’s “Send Globally” feature, which allows users to send dollars and receive them as the local currency directly into a bank account on the recipient’s side. She mentioned that users in jurisdictions with weak currencies were delighted with the experience but requested the ability to receive funds in US dollar equivalents.

Regarding Bitcoin purchases, Rios noted that a seamless experience is lacking globally. Therefore, the new Strike app also serves as a Lightning wallet, enabling users to buy and sell Bitcoin using dollar equivalent rails.

During his speech at Bitcoin 2023, Strike CEO Jack Mallers discussed the broader vision behind these updates. He stated that the company aims to provide a reliable cash balance for the global south and emphasized its unconventional, punk-like branding. Mallers criticized traditional banks, suggesting that they are being driven insolvent by the Federal Reserve’s policies.

Mallers showcased the company’s responsiveness to user feedback by displaying tweets requesting LNURL support. Shortly after, he announced that the new app indeed includes LNURL support, with all usernames functioning as LNURLs from the launch.

Mallers expressed the company’s commitment to creating an outstanding global money app, stating, “We made a lot of product changes to support what we hope to become an amazing global money app. As a company, we know what we’re fighting for, we know who we are, we changed the way we looked, but we never changed the way we felt.”

In addition to the new features and expanded access, the app offers a simplified sign-up process to make it easier for users to join. Rios explained that the ultimate goal is to serve 7-8 billion people, and they plan to expand their reach gradually to include countries that didn’t make it into this initial release.

Read Also :

Jesus Dawal

Jesus Dawal Jr covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.