- Strike lets people pay with Bitcoin.
- The company raises $80 million in Series B funding round.
- Strike uses the Lightning Network to speed up Bitcoin transactions.
Series B funding round, Strike, a company that lets people pay with Bitcoin, raised $80 million. El Salvador was the first country in the world to accept Bitcoin as a legal form of payment.It has been used by major e-commerce companies like Shopify and NCR.
Ten31, a venture capital firm that focuses on Bitcoin companies led the round, but an announcement on Tuesday said that Washington University in St. Louis and the University of Wyoming also took part.
With the money, Stike will make more deals with merchants.
Strike uses the Lightning Network, which is a way to speed up Bitcoin transactions so that the cryptocurrency can be used to buy things you need every day.
“Every company that’s in the business of moving money is interested in superior payments, and we’re in talks with many of them,” Strike founder and CEO Jack Mallers said in a statement.
Strike said that it plans to use the money to make new product lines for customers like large businesses and financial institutions.
As Strike grows to reach consumers and merchants all over the world, the platform will help more people use Bitcoin and Lightning.
Strike’s app has been used by major e-commerce companies like Blackhawk, NCR, and Shopify.
When El Salvador chose Strike as a partner for its Bitcoin project, the news spread quickly. Last year, El Salvador was the first country in the world to accept Bitcoin as a legal form of payment.
By making a Bitcoin wallet available in El Salvador, Strike helped set up a way for people to spend their cryptocurrency. Mallers helped get El Salvador’s Bitcoin Law passed.
Mallers said that the idea was for Salvadorans to use Bitcoin and the Lightning Network to do things like send money home and save money.
But, according to different reports, many Salvadorans have stopped using Bitcoin or never really used it in the first place, even though the government gave each citizen a Bitcoin wallet and gave them free cryptocurrency.