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HomeBTCBitcoin firm Strike raises $80 million to fuel global expansion

Bitcoin firm Strike raises $80 million to fuel global expansion

On September 27, payments platform Strike successfully completed a Series B investment round and raised a total of $80 million to fuel their global expansion. The round was headed by Ten31, a venture capital group that invests solely in bitcoin-native firms.

According to a statement, institutions such as Washington University in St. Louis and the University of Wyoming participated in the Series B round, which had a total funding of $80 million. Jack Mallers, the company’s founder and CEO, plans to use the cash to integrate the platform with some of the top retailers and marketplaces on the globe.

Strike is essentially a Bitcoin Lightning network which offers quick transactions using lower denominations of the cryptocurrency.

Jack Mallers, founder and chief executive officer of Strike, said:

“Every company that’s in the business of moving money is interested in superior payments, and we’re in talks with many of them. It doesn’t get any bigger and more exciting than innovating in payments for the betterment of the world.” 

Strike intends to increase its relationship with other firms:

Strike intends to increase its relationship with other firms
Strike intends to increase its relationship with other firms

In particular, Strike intends to increase its relationships for its commerce API, which is currently integrated by e-commerce platforms such as Blackhawk, NCR, and Shopify. Strike’s ambitions include expanding these collaborations in the next few months. It is also planning to make a new application programming interface (API) that would let large businesses and financial institutions accept and send payments through the Lightning network. 

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Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.


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