Strike, a Chicago-based Bitcoin (BTC), a payment provider, expanded its services to 65 countries in parallel to the transfer of its world headquarters to El Salvador. Before its expansion, the mobile application was only operational in the United States, El Salvador, and Argentina.
According jack mallersThe CEO and founder of Zap, the parent company of Strike, the expansion unit aims to counter the โcloudy world of crypto exchanges and hidden, unregistered licensing regimes and 1,000 different coins.โ Speech To Fortune, Mallers revealed that the move to move its headquarters to El Salvador was a response to rising anti-crypto-regulatory sentiments in the US.
For one, regulations prevent Strike from offering its service in New York. On the other hand, El Salvador introduced crypto-inclusive regulations to attract technological innovations in the region.
3/ El Salvador is the epicenter of Bitcoin adoption and, therefore, of economic freedom, financial sovereignty, resistance to censorship, and unconfiscatable wealth.
When we issue the first of the volcano bonds, we will once again be leading the way for this new monetary revolution.
โ The Bitcoin Office (@bitcoinofficesv) January 11, 2023
During the discussion, Mallers spoke about El Salvador's success in establishing Bitcoin as legal tender. He believed that commercial adoption "was not what defined success." Instead, he weighed the success of Bitcoin adoption in El Salvador in terms of other factors, including increased tourism.
Strike will initially allow users in the new global markets to receive only Bitcoin, however Mallers revealed plans to launch new features by the end of the year, including a debit card. For markets outside of the US, Strike will enable US dollar payments via Tether (USDT).
โTwo years ago, people would have made fun of me. [for our] headquarters in El Salvador to launch a product for three billion people, but now Coinbase is fighting with Gary Gensler,โ he said. "Who's laughing now?" Mallers concluded.
Related: US lawmakers target perceived risks of crypto adoption in El Salvador with reintroduced bill
Strike and crypto exchange Bitfinix were among the first Cryptocurrency companies will pocket operating licenses in El Salvador.
We are now the world's first international digital asset platform to receive approval for a Digital Asset Service Provider license under El Salvador's new Digital Asset Issuance Law! A milestone for financial freedom in Latin America.@bitfinex https://t.co/88Mmmi5s6M
โ Bitfinex Securities (@BFXSecurities) April 11, 2023
The El Salvador Digital Asset Services Provider license allows Bitfinex Securities to โfacilitate the issuance and secondary trading of assetsโ with clearly defined rights and obligations in the jurisdiction.
Post navigation
