Strike, the famous wallet developed by startup Zap, which allows Bitcoin transactions to and from a regular bank account, operating on the Lightning Network, expands further, landing in Argentina, and thus opening a bridge to the increasingly promising South American market as far as cryptocurrencies are concerned.
Strike brings Bitcoin payments to Argentina
“Argentina is one of the most exciting countries for building the Bitcoin economy, leveraging Bitcoin as both a superior asset and a superior payments network,”
said Jack Mallers, founder and CEO of Strike.
“With our launch, Strike delivers a reliable and superior financial experience to a country that faces inflation, predatory payment networks, and unusable cross-border transfers. Utilizing Bitcoin and the Lightning Network, the Argentinian people can now hold a stable cash balance that can be spent both instantly and with no fees. This is a superior financial experience that legacy financial institutions have failed to deliver to the people of Argentina, further showcasing why Bitcoin is a superior monetary system that builds towards financial inclusion and helps re-instill basic human freedoms,”
added the CEO, clearly hinting that entering the Argentine country would only be the first step towards expansion into the South American continent.
Strike targets South America and Europe
According to the first rumors, by the first half of 2022, the service should arrive in Brazil, then in Colombia and Venezuela by the end of the year.
After the United States and El Salvador, Argentina is the third country in which the micropayments service with Strike is launched. In the Central American country, which made Bitcoin legal tender in September, Strike has become the country’s most downloaded app in just a few months.
Argentina is one of the countries with the highest adoption of cryptocurrencies due to extremely high inflation rates for years, making cryptocurrencies a helpful tool for creating secure, fast transactions safe from hyperinflation.
In Chain Analysis’s 2021 Global Crypto Adoption Index ranking, the country occupies the 10th position.
By the end of 2021, Strike should have made its way to Europe, but the European launch has been delayed by at least 8/9 months, according to sources inside the company.
At the end of September 2021, Twitter launched the service that allows the payment of its users’ tips, also in cryptocurrency, using its Lightning Network and thanks to the Strike wallet.