Bitcoin banks the world – In July 2020, the start-up Zap had managed to raise 3.5 million dollars, notably from VISA. Already well known for its eponymous wallet on Bitcoin’s Lightning Network (LN), the young company is now announcing the launch of its new universal payment product: Strike Global.
A launch with an international reach
It is via a publication on Medium that Jack Mallers, founder of Zap, has just revealed the launch of Strike Global, the worldwide version of his Strike product, until now only available in the United States.
In order to offer this brand new Bitcoin Supersplit integrated banking service to the entire world, Mallers explains that Zap has entered into a partnership with the Bittrex Global exchange platform.
As a result, from the launch of Strike Global – in addition to the U.S. dollar already supported during the public beta – the euro, British pound and Swiss franc will be available to the first users in the coming weeks. The Australian dollar and the Canadian dollar are expected to follow afterwards.
In addition, 2 stable corners of the US dollar will be available: USDT from Tether, and USDC from Circle and Coinbase.
„Strike is like a neo-bank native to the Bitcoin network. Our goal was to break down the barrier between the international banking system and the decentralized network, so that any current account can communicate directly with a Bitcoin portfolio. From there, the use cases made possible depend only on our imagination. For example, a user can link a bank account to his or her Strike account and directly start spending Bitcoins, whether on chain or on the Lightning Network.“
Namson Lê, UX Designer at Zap
A revolution in banking transactions?
What’s so disruptive about Strike? As its founder says, this new offering allows you to move „any value anywhere in the world without variable cost“ at the lightning speed of Bitcoin’s Lightning Network.
This is enough to make traditional money transfer systems look like dinosaurs on the verge of extinction :
„We also recently realized that our infrastructure is much more efficient than most other existing technologies for transferring value between two different currencies. Where Western Union or Transfer Wise charge expensive fees and a few floating days to transfer dollars across US borders, Strike does it for free and in seconds. Again, all this is made possible by coupling the rails of traditional finance and Bitcoin, especially LN.“
The most beautiful? It is that the interactions between Strike and the accounts of traditional banks will be simple and transparent. In fact, Namson Le revealed to Le Journal du Coin that Zap plans to be able to „bank“ Strike users „during the course of the year“.
They will have their own account number and routing number (the US equivalent of our IBANs). They will therefore be able to use their Strike account as their main bank, first in the USA, then in Europe „if all goes well“ as Namson Lê explained.
Bitcoin, its blockchain and Lighning Network are a major step forward in the world of payments and bank transfers. Strike Global could well be a kind of realization of this vision. Get ready! What if the real crypto-revolution has just begun?