Strike Secures $80m in Funding to Propel Instant Bitcoin Payments

Strike raised $80 million in funding to revamp BTC payments for top financial institutions, marketplaces, and merchants.

Jack Mallers, the CEO and founder of Strike, pointed out:

“We’re moving full speed ahead not just to integrate Strike’s revolutionary payments with leading merchants, but globally, with a variety of businesses and partners to innovate and deliver on more financial inclusion.” 

As a leading digital payments platform built on Bitcoin's Lightning Network, Strike recently launched its flagship API meant to render instant, cash-final, and global payments by eradicating interchange and other processing fees. 

Some investors taking part in the $80 million funding included the University of Wyoming, Ten31, and Washington University in St. Louis, among others. 

Since Strike is poised to revamp the Landscape's payments and financial services, Grant Gilliam believes it will offer everyone a more inclusive, innovative, and efficient financial experience.

The co-founder and managing partner of Ten31 added:

“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. It was therefore a natural fit to partner with Strike as its lead investor.” 

Strike intends to use the capital to boost growth beyond its commerce API, enhance existing partnerships, and launch new collaborations. For instance, the digital payments platform intends to roll out new product lines that will take the hassle of building in-house solutions for large businesses and financial institutions. 

Mallers added:

“Businesses and institutions want a groundbreaking experience sending payments as well. We can empower businesses to move money in ways networks such as card networks and SWIFT can’t, and we pay these partners in the form of commissions to do so, which makes it an exciting innovation for everyone. We’ve seen a lot of demand here.”

Having clocked more than two million app downloads, it seems the sky's the limit for Strike, given that it permits users to send dollars instantly and feeless globally.

Meanwhile, Strike enabled Shopify merchants to have the option of receiving BTC off-chain payments, which are readily confirmed, faster, and cheaper than that processed on-chain, Blockchain.News reported. 

Image source: Shutterstock