Strike, a digital payments firm specializing in Bitcoin transactions, has completed the transition of its customer assets to its own in-house infrastructure.
Strike aims to deliver an enhanced user experience and advance its vision for the future
Strike, a digital payments firm specializing in Bitcoin transactions, has completed the transition of its customer assets to its own in-house infrastructure. The move, led by CEO Jack Mallers, marks the culmination of a two-year effort to reduce counterparty risk and enhance the performance of the company's products and services. By bringing custody in-house, Strike eliminates the need for custodial intermediaries and allows users to directly custody their Bitcoin and fiat assets with the company. This development enables Strike to introduce new features, such as peer-to-peer Bitcoin transfers, the option to receive funds as cash or Bitcoin, and the ability to make on-chain payments or utilize the Bitcoin Lightning Network for faster transactions.
Mallers highlighted the short and long-term benefits of the in-house custody transition for Strike users. Enhanced infrastructure has facilitated the rollout of new features, including increased deposit limits and tiered on-chain payments that offer faster or more cost-effective options based on transaction urgency. Looking ahead, Mallers expressed the company's ambitious plans, which include expanding global on/off ramps, instant withdrawals, improving limits, and introducing more cross-currency capabilities. With the completion of the custody transition, Strike aims to deliver an enhanced user experience and advance its vision for the future of a Bitcoin-based financial system.
