Strike, a digital payments platform based on Bitcoin’s Lightning Network, has announced a partnership with the e-commerce platform Shopify
Shopify & Strike Bitcoin Partnership
Strike CEO Jack Mallers has announced new collaborations with Shopify, point-of-sale provider NCR, and payments firm Blackhawk that would enable retailers in the United States and throughout the world to accept Bitcoin payments over the Bitcoin Lightning Network.
Strike CEO Jack Mallers stated at the Bitcoin 2022 conference in Miami that qualifying US Shopify businesses would now be able to accept Bitcoin payments from consumers all across the world in US dollars. By leveraging the Lightning Network, a second layer built on top of the bitcoin blockchain that allows users to send or receive cryptocurrency quickly and cheaply by moving transactions off of the main blockchain, the integration provides an alternative to traditional card networks such as Visa V -1.3 percent and MasterCard. According to Mallers, the service would be available to every customer worldwide who has a Lightning Network-enabled wallet, including the more than 70 million CashApp users.
According to Macrotrends, a financial market analysis website, Shopify is the world’s 18th largest eCommerce firm, with around $4.6 billion in yearly revenue. Its service allows retailers to open an online store in 175 countries.
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Commenting on partnership, Jack Mallers, founder and CEO of Strike, said: “We’re proud to partner with Shopify to provide merchants with a cheaper and faster way to accept U.S. dollars using Bitcoin technology. The Lightning Network is a global payments network that lowers costs, enhances speed, drives innovation, improves financial inclusion, and brings the power of choice to consumers and merchants.”
“Strike’s integration enables Shopify merchants to diversify their existing payment options and reach untapped global markets and purchasing power. Strike’s integration also allows Shopify merchants to generate savings through low-cost payment processing. By instantly converting bitcoin (BTC) payments to dollars, Strike removes certain complexities merchants face in holding bitcoin,” a Press Release said.
