• Strike, a digital payment platform built on Bitcoin’s Lightning Network, has announced the expansion of its “Send Globally” product to the Philippines.
• The new service will allow fast, secure and low-cost money transfers between the U.S. and the Philippines, one of the world’s largest remittance markets.
• Strike uses the Lightning Network to make digital payments faster, cheaper, and more accessible for unbanked individuals.
Strike Expands “Send Globally” Product to Philippines
Strike, a leading digital payment platform built on Bitcoin’s Lightning Network, has announced the expansion of its “Send Globally” product to the Philippines. This will allow for fast, secure and low-cost money transfers between the U.S. and the Philippines – one of the world’s largest remittance markets which relies on more than $35 billion annually in money sent from abroad with over $12 billion coming from just U.S. alone.
Lightning Network Improves Accessibility
Strike uses the Lightning Network to make digital payments faster, cheaper and more accessible – particularly in countries with a high number of unbanked individuals. With Send Globally, dollars are converted into bitcoin which is then sent via the Lightning Network to a third-party partner in the recipient’s country before being converted into local currency and sent directly to their bank or mobile money account.
A New Way To Send Money Abroad
This eliminates any need for either sender or receiver worrying about bitcoin’s tax treatment or dollar volatility or custody implications when sending money across borders quickly and securely.
Jack Mallers’ Comments
Jack Mallers – founder and CEO of Strike – comments: “Remittances are a broken system and Strike delivers an incredibly empowering experience for people to send money around the world in nearly an instant” He goes on by saying that they are excited to partner with Pouch.ph as it advances financial inclusion while bringing fast low-cost cross-border payments via their technology.
“Send Globally” Partnerships
CoinCorner has also partnered with Pouch.ph in order enable remittances for European customers while Send Globally was launched back in December 2022 starting with transfers from U.S through Nigeria Kenya Ghana etc., making cross border payment experience much easier than ever before..