Bitcoin

Strike

when

Ivory

<p class="is-style-lead">Strike, a Bitcoin-focused payments application, has <a href="https://strike.me/blog/announcing-strike-africa/" target="_blank" rel="noopener">announced </a>the launch of its services in seven African countries, signaling its expansion into the continent.</p> 
<p>The countries included in this initial rollout are Gabon, Ivory Coast, Malawi, Nigeria, South Africa, Uganda, and Zambia. The company, founded by CEO Jack Mallers, aims to extend its reach to more African markets in the future.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">All of our services are rolling out to Africa, not just our app.<br><br>Strike for Businesses, the Strike API, and Strike Private are all now available in the supported African markets.<br><br>Does your business need to buy <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#bitcoin</a> or USDT? Are you a developer looking to use our… <a href="https://t.co/rDRVs2QNee" target="_blank">pic.twitter.com/rDRVs2QNee</a></p>— Jack Mallers (@jackmallers) <a href="https://twitter.com/jackmallers/status/1762538074431438878?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 27, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Strike, a product of the Chicago-based startup Zap, is akin to mobile payment applications like Cash App or Venmo but utilizes blockchain technology for transactions.</p> 
<p>The application will allow users in these African countries to engage in buying and selling Bitcoin (BTC) and the dollar stablecoin USDT. Additionally, it will provide local fiat currency on-ramps and off-ramps, alongside global payments via Bitcoin’s Lightning network. This network facilitates low-cost, speedy transactions for both transfers and cross-border payments.</p> 
<p>The introduction of Strike Africa comes at a time when Bitcoin and stablecoins are gaining popularity in countries with high inflation rates and unstable financial systems, such as <a href="https://crypto.news/argentina-imports-banknotes-amid-crisis-while-citizens-turn-to-bitcoin/">Argentina </a>and <a href="https://crypto.news/hyperinflation-fuels-bitcoins-rise-in-turkey-and-lebanon-experts-say/">Turkey</a>.</p> 
<p>Notably, Nigeria, Africa’s largest market, has seen a significant surge in crypto adoption as individuals seek digital assets to hedge against local currency devaluation. The Nigerian naira has experienced a considerable decline in value, dropping by almost 50% against the U.S. dollar recently.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Food prices have doubled in Nigeria<br><br>People are dying in rice stampedes<br><br>Fiat currency is broken <a href="https://t.co/ZV2sx0GbMB" target="_blank">https://t.co/ZV2sx0GbMB</a></p>— Alex Gladstein 🌋 ⚡ (@gladstein) <a href="https://twitter.com/gladstein/status/1762552543706833020?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 27, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p> You might also like: <a href="https://crypto.news/central-bank-of-nigeria-reverses-crypto-ban/"> Central Bank of Nigeria reverses crypto ban </a> </p> 
<p>The move by Strike to expand into Africa reflects the company’s view of the continent as a fertile ground for financial innovation and economic freedom. The firm points out the challenges many African countries face with high inflation rates and devaluing currencies, which complicate the ability of residents to save and build wealth.</p> 
<p>The expansion follows Strike’s <a href="https://crypto.news/strike-to-charge-non-u-s-users-for-bitcoin-purchases-with-debit-card/">announcement </a>last year of its plans to extend its operations to over 65 countries, targeting not only Africa but also Latin America, Asia, and the Caribbean. In November, Strike made its services available globally, allowing users in over 35 countries to purchase BTC through its app, albeit with a 3.9% fee for non-U.S. customers.</p> 
<p>In related news, Strike CEO Jack Mallers recently <a href="https://crypto.news/strike-ceo-jack-mallers-goes-all-in-on-bitcoin-ditches-us-dollar/">revealed </a>his decision to divest completely from the U.S. dollar, emphasizing his commitment to Bitcoin.</p> 
<p>Mallers, known for his advocacy of Bitcoin, criticized the U.S. monetary policies and expressed his belief in Bitcoin’s potential to counter fiat debasement, highlighting its fixed supply and decentralized nature. His stance reflects a broader belief in Bitcoin’s alignment with American values such as personal freedom, equal opportunity, and innovation.</p> 
<p> Read more: <a href="https://crypto.news/strike-ceo-jack-mallers-thinks-btc-will-hit-1m/"> Strike CEO Jack Mallers thinks BTC will hit $1m </a> </p>

Strike launches Bitcoin payment services in seven African nations

crypto.news

Other articles published on Feb 28, 2024

Crypto Market Ends February on High Note with Strong Gains

Braintrust (BTRST) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

QCP Capital explains when to expect Bitcoin’s all-time high

Ripple President Breaks Silence on Latest XRP Ledger Game-Changing Move

Key Deadline Approaches in Ripple-Zakinov Lawsuit: What XRP Investors Should Know

Hong Kong sets global benchmark in virtual asset regulation

Join our free newsletter for daily crypto updates!