Strike, a Bitcoin (BTC) wallet and payment platform, has formed a strategic partnership with Checkout.com, facilitating Bitcoin purchases via debit cards across more than 65 countries.
Leveraging Bitcoin’s lightning network, Strike empowers users to execute instantaneous and fee-free cross-border transactions in fiat currency, extending its functionality as a Bitcoin onramp for buying and selling the cryptocurrency.
Checkout.com, a global payment service provider catering to businesses, offers support for all major card schemes, enhancing the accessibility and convenience of debit-card-based Bitcoin transactions through this collaboration.
The partnership tackles a fundamental challenge faced by many prominent cryptocurrency providers: the seamless exchange of funds between digital and fiat currencies, particularly when involving access to traditional U.S. banking infrastructure.
Jack Mallers, the CEO of Strike, highlighted in an interview with Fortune that Checkout.com functions as a card network gateway, establishing connections with major players like Visa and Mastercard. Importantly, Checkout.com doesn’t directly convert users’ dollars into Bitcoin but serves as an additional avenue for investors interested in purchasing the digital currency.
Mallers envisions Strike evolving into the “Bitcoin company of the earth,” emphasizing global payments as a central feature of its services. The collaboration with Checkout.com expands the pathways for users to engage in the cryptocurrency market, positioning Strike at the forefront of facilitating global Bitcoin transactions.
Strike’s Bitcoin Payment Features
Presently, Strike Global users in more than 36 countries have the capability to purchase Bitcoin using a debit card, and the platform is planning expansions to cover over 65 countries. Among the currently compatible nations are El Salvador, Australia, New Zealand, South Africa, and the UAE.
Jack Mallers, the CEO of Strike, mentioned that the platform has adapted its Send Globally technology for users outside the United States. Originally designed for U.S.-based Strike users to send money internationally, this technology automatically converts funds into the recipient’s local currency in their bank or mobile money account. This functionality is now extended to global users, enabling them to cash out Bitcoin and USDT to local currency, send money across borders, or use Strike for local market purchases.
Additionally, Strike has entered into a partnership with Bitrefill, a company that allows customers to buy various real-world items, such as gift cards, using Bitcoin. Mallers emphasized that users can now easily purchase everyday items over Lightning, whether they hold fiat, USDT, or Bitcoin.
While Mallers had initially announced a partnership with Blackhawk and NCR at the 2022 Bitcoin Conference to enable people to use BTC for purchases at major retailers directly from their personal wallets, technical complications resulted in a delay for this service.