Bitcoin payment application Strike has declared the commencement of its operations in the United Kingdom.
The company announced this expansion in a blog post on Tuesday, signaling another significant milestone in its rapid global expansion, which follows its recent launches in Africa and Europe.
The Strike app is now available to customers in the United Kingdom, enabling them to purchase, sell, and withdraw funds.
The platform provides a convenient and versatile payment experience by allowing users to seamlessly transact in both Bitcoin (BTC) and sterling.
Strike has been actively expanding its scope, with a presence in over 100 countries and territories worldwide.
The company is currently expanding into the UK market after having already established itself in Europe in April and entering the African market earlier in the year.
Strike is redoubling its dedication to the promotion of global Bitcoin adoption and the further expansion of its presence in the UK, despite the fact that some cryptocurrency companies have reduced their operations.
CEO Jack Mallers stated that the United Kingdom, which is the sixth-largest economy in the world and has a population of 67 million, offers “substantial opportunities for Bitcoin adoption.”
“We are thrilled to announce the launch of our services in the United Kingdom. Our Bitcoin app is stunningly designed and offers all of Strike’s features, all while adhering to local regulations for “cryptocurrency” companies and bitcoin.”
Strike will provide its clients with cross-border services from its European headquarters to guarantee compliance with regulatory mandates regarding cryptocurrency promotions.
The company has established a partnership with Engelbert, a Financial Conduct Authority-registered firm, to guarantee compliance with regulatory standards.
Zap Solutions, a Chicago-based startup, has developed Strike, a global money transmission solution that is comparable to prominent platforms such as PayPal and Cash App.
The application has improved the efficacy of its users by utilizing Bitcoin’s Lightning Network to facilitate quicker and more cost-effective transactions since its introduction in the United States in 2020.
In April, Stripe, a leading fintech company, announced that it would resume allowing consumers to accept cryptocurrency payments after a six-year hiatus.
The corporation is commencing operations with USDC stablecoins on the Solana, Ethereum, and Polygon blockchains.
Stripe conducted experiments in 2014 that explored the realm of cryptocurrency, including Bitcoin, the first crypto.
Nevertheless, in 2018, the company discontinued its support for Bitcoin due to its volatility and unsuitability as a medium of exchange.
In addition to Stripe, other payment companies have also implemented stablecoins as a payment method. A more recent announcement came from Triple-A, a payments provider located in Singapore. They want to add PayPal’s stablecoin to their list of supported tokens for client payments.
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