Strike, the prominent Bitcoin payments app, has reached a significant milestone by launching its services in Europe, extending its global footprint to the continent. With this move, millions of Europeans now have access to a user-friendly platform that facilitates various Bitcoin transactions, including buying, selling, sending, and withdrawing the cryptocurrency.
TLDR
- Strike, a popular Bitcoin payments app, has launched its services in Europe, allowing users to buy, sell, send, and withdraw Bitcoin.
- European customers can now leverage the Lightning Network for fast and low-cost Bitcoin transactions.
- Strike is now available in almost 100 countries globally, but not yet in the UK due to Brexit-related regulatory hurdles.
- The app offers features like “Send Globally,” enabling local currency remittances using Bitcoin’s Lightning Network as a payment rail.
- Strike’s expansion to Europe comes after successful launches in Latin America, Africa, and other regions, driven by demand for accessible Bitcoin services.
One of the key advantages Strike brings to European users is the ability to leverage the Lightning Network, a layer-two scaling solution built on top of the Bitcoin blockchain. The Lightning Network enables near-instantaneous and cost-effective Bitcoin transactions, making it an attractive option for everyday payments and remittances.
Strike’s CEO, Jack Mallers, expressed excitement about the European expansion, stating,
“Bitcoin is reshaping the global financial landscape with its technological innovation, global interoperability, resilience, and unforgeable monetary policies. It transcends borders, enhances financial inclusion and solves some of the world’s most pressing challenges.”
With Europe being the third-largest economy globally and home to over 440 million inhabitants, Strike sees vast opportunities for Bitcoin adoption in the region.
The app’s launch in Europe follows successful rollouts in various other regions, including Latin America, Africa, and parts of Asia.
Strike is now available in nearly 100 countries worldwide, underscoring its rapid global expansion driven by increasing demand for accessible Bitcoin services.
One of Strike’s standout features is “Send Globally,” which enables users to make local currency remittances to supported regions, such as Africa, Brazil, the Philippines, Mexico, and Vietnam, using Bitcoin’s Lightning Network as a global payment rail behind the scenes.
Bitcoin payments app Strike rolls out services to European users https://t.co/Hdk2Qjr4cV
— The Block (@TheBlock__) April 24, 2024
This feature not only facilitates fast and low-cost cross-border transactions but also promotes financial inclusion by providing access to digital payments for underbanked populations.
European customers can fund their Strike accounts using free, unlimited SEPA (Single Euro Payments Area) euro deposits from their bank accounts, streamlining the process of buying Bitcoin.
Once purchased, users can choose to hold their Bitcoin in the app’s custodial wallet, transfer it to a self-custodial wallet, or make payments over the Bitcoin or Lightning Network without limits.
Strike also offers “free” on-chain Bitcoin withdrawals, helping users navigate periods of high network congestion and fees.
While these withdrawals may require a target confirmation time of around 24 hours, the feature aims to support Bitcoin’s use at scale by making it more accessible and affordable for everyday transactions.
While Strike’s expansion to Europe is a significant achievement, the app is not yet available in the UK due to Brexit-related regulatory hurdles. The company will need to navigate UK-specific rules and regulations before rolling out its services in the country.
