Strike Launches Operations in the UK, Expands Global Reach

B. Ali
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Strike, a Bitcoin Payments App, has announced the start of its operations in the United Kingdom.

The company announced the expansion in a blog post on Tuesday, marking another milestone in its rapid global expansion that follows recent launches in Europe and Africa.

The platform allows users to effortlessly deal in Bitcoin (BTC) and the pound, providing a convenient and varied payment experience.

Strike broadens global reach.

Strike has a global presence in over 100 countries and territories, and it is actively increasing its reach.

After establishing itself in Europe in April and entering the African market earlier this year, the company is now expanding into the UK market.

While some cryptocurrency companies have reduced their presence in the UK, Strike is doubling down on its commitment to promoting worldwide Bitcoin adoption and increasing its footprint.

With a population of 67 million and the world’s sixth-largest economy, the United Kingdom provides “significant opportunities for Bitcoin adoption,” according to CEO Jack Mallers.

“We’re excited to introduce our services in the UK, featuring a beautifully designed Bitcoin app that delivers all of Strike’s features while complying with local regulations for bitcoin and “cryptocurrency” companies.”

The strike will service its clients cross-border from its European headquarters to comply with legal restrictions governing cryptocurrency advertising.

The company has partnered with Engelbert, a Financial Conduct Authority-registered firm, to ensure regulatory compliance.

Strike, developed by Chicago-based startup Zap Solutions, offers consumers a global money transfer service similar to famous platforms such as Cash App and PayPal.

Since its introduction in the United States in 2020, the software has used Bitcoin’s Lightning Network to enable faster and more cost-effective transactions, resulting in increased efficiency for users.

Payment firms adopt cryptocurrencies.

Stripe, the fintech powerhouse, announced in April that it would resume accepting cryptocurrency payments after a six-year hiatus.

The startup will launch with USDC stablecoins on the Solana, Ethereum, and Polygon blockchains.

Stripe dabbled in cryptocurrencies in 2014, conducting testing with Bitcoin, the pioneering digital currency.

However, in 2018, the company chose to discontinue support for Bitcoin due to its volatility and lack of acceptability as a medium of exchange.

Aside from Stripe, several payment providers have started accepting stablecoins as a form of payment.

More recently, Singaporean payments processor Triple-A announced plans to add PayPal’s stablecoin to its list of supported tokens for consumer payments.

Triple-A, Singapore’s first licensed crypto payments provider, plans to add support for PayPal’s stablecoin, PYUSD, by the end of June.

The company now provides payment services primarily in Bitcoin, Ether, and stablecoins issued by Tether and Circle.

Tether’s USDT remains the most popular stablecoin in the crypto industry, with over $110 billion in circulation.

In comparison, PYUSD, which debuted in August 2023, has a circulating supply of slightly more than $200 million.

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Live webinar speaker and derivatives (Forex, Crypto, and Indices) analyst with a broad range of skills for evaluating financial data, investment trends, technical analysis, fundamental analysis, and the best ways to strategies investment selection.  Expertise: Trading Psychology; Speculative Positioning & Market Sentiment; Technical & Fundamental Analysis.