Bitcoin Lightning App Strike Expands to UK with Global Transfers

[Bitcoin]

Bitcoin Lightning App Strike Expands to UK with Global Transfers

The Bitcoin Lightning payments app Strike has expanded into the United Kingdom, enabling UK residents to buy, sell, and transfer Bitcoin globally.

JUST IN: #Bitcoin lightning payments app Strike launches to millions across the UK 🇬🇧 pic.twitter.com/lIcW6xF7YG

— Bitcoin Magazine (@BitcoinMagazine) June 25, 2024

Founded by Jack Mallers, Strike aims to make Bitcoin accessible through its mobile app, which leverages the Lightning Network. With the UK launch, Strike is now available in 100 countries worldwide. 

Jack Mallers said they are committed to growing Bitcoin adoption and providing its services globally despite regulatory complexities. "Our work is far from done," he added.

To use Strike in the UK, users must pass an "appropriateness assessment" quiz about Bitcoin, which is required under local regulations. The app also includes customary risk warnings.

Strike offers several features for UK customers, including buying Bitcoin with instant bank transfers, setting recurring purchases, and self-custody withdrawals.

The app also utilizes Lightning Network to enable instant, unlimited, and free payments globally between Strike users, providing a frictionless transnational transfer experience.

While Strike said some companies have exited the UK market, its expansion reflects a belief in Bitcoin's potential. The UK presents opportunities as the world's 6th largest economy.

Strike continues working to make Bitcoin accessible for regular users and businesses worldwide. While region-specific regulations create hurdles, the company aims to comply while delivering key functionality.

Source: Bitcoin Lightning App Strike Expands to UK with Global Transfers