The famous Bitcoin payment company Strike has revealed plans to broaden its market presence to over 65 countries. On May 19, the Strike chief executive officer Jack Maller conveyed an advanced report on the company expansion plan.
Before this, Strike announced plans to relocate its head office to El Salvador. Maller stated that the ongoing regulatory clampdowns in the US forced the firm to establish its presence in a crypto-friendly country such as El Salvador.
Significance of Strike Expansion Plan
Unlike the US, El Salvador has adopted a friendly regulation to boost technological advancement in the region. The regulatory inclusivity approach in El Salvador has motivated the best-performing crypto firms to pursue new opportunities in the region.
In his discussion, Maller briefed on the legalization of Bitcoin as a legal tender in El Salvador. He highlighted the benefits of Bitcoin adoption in El Salvador. A recent update from the El Salvador tourism sector revealed that adopting Bitcoin in the region has attracted many local and foreign investors.
Surprisingly, the entrance of Strike to El Salvador positions the payment company, among other crypto exchanges seeking to obtain operational permits to comply with the regulation. Strike’s expansion plans aim to address the current challenges battling the crypto sector.
Speaking at the Bitcoin 2023 conference in Miami, Florida, Maller announced that the Chicago payment company plans to increase its clientele to 3 billion. In a separate report, Strike vice president of product development Manuel Rios stated that Strike aims to serve 7 to 8 million individuals in every country.
He revealed that the Strike payment application utilizes the Bitcoin and Lightning networks to expedite transactions.
Features of Strike New App
Rios added that the Strike team has integrated additional features to improve the onboarding process. The team behind Strike’s latest upgrade confirmed that it has been working on revamping the user interface for years.
After passing several beta tests, the Strike new app was first launched in the US market. Rios stated that Strike users who have adopted the new app had provided positive feedback concerning the efficiency and reliability of the payment method.
Some customers were pleased to announce that the new app has a unique design that differentiates Strike from other brands. In the meantime, users outside the US cannot download or access the new application.
The Strike platform has provided diverse users with a cheap, secure, fast platform for Bitcoin transactions.The Strike team has also utilized its proprietary tools to enable users to store measurable amounts of funds in either Bitcoin (BTC) or Tether (USDT).
Per the Strike announcement, users outside the US will complete their transactions using Tether. Afterward, the Strike developers plan to introduce debit cards before the end of this year.