Payments

Strike to deliver crypto transfers to Africa

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December 13, 2022

Strike, a digital payments platform built on the Bitcoin Lightning Network, has announced a Send Globally feature that allows U.S. users to send cryptocurrency funds to Africa. The company partnered with Bitnob, an African payments platform, to do an initial rollout in Nigeria, Kenya and Ghana, according to a press release.

The platform automatically converts the cryptocurrency into Nigerian naira, Kenyan cedi or Ghana shillings and deposits it into the recipient's bank, mobile or Bitnob account.

"High fees, slow settlement, and lack of innovation in cross-border payments have negatively impacted the developing world," Jack Mallers, founder and CEO of Strike, said in the release. "With exorbitant fees to transfer funds in and out of Africa and incumbent providers halting services, payments companies are struggling to operate in Africa and people cannot send money home to their family members. Strike offers an opportunity for people to transfer their U.S. dollars easily and instantly across borders."