Bitcoin’s Price Is Way Up. And $48 Trillion in Wealth Just Got Access
08:42Bitcoin Ecosystem Developments in 2023 as BTC Hits Fresh 2023 High01:10Bitcoin Extends Rally as $1B in BTC Withdrawals Suggests Bullish Mood1:02:43Why Financial Advisors Are So Excited About a Spot Bitcoin ETF02:21When Could Traders See the Arrival of a Spot Bitcoin ETF?Strike, the payments application that uses the Bitcoin blockchain, has started U.K. operations, the company said in a blog post on Tuesday, expanding its global reach just months after rolling out in Europe and Africa.
Customers in the U.K. can now buy, sell and withdraw funds using the Strike app, the company said. Users can send and receive bitcoin (BTC) or sterling.
The payments firm has been expanding aggressively and now operates in more than 100 countries and territories around the world. Strike launched in Europe in April and in Africa earlier in the year. While some crypto companies have retreated from the U.K., Strike said it was expanding its presence and doubling down on its commitment to further bitcoin adoption globally.
“With a population of 67 million, the U.K. is the second-largest economy in Europe and sixth-largest globally and presents significant opportunities for bitcoin adoption,” the company said.
The company will serve clients cross-border from its European base. The Financial Conduct Authority-registered firm Engelbert will ensure it is compliant with regulatory requirements regarding crypto promotions.
Strike was developed by the Chicago-based startup Zap Solutions, allowing customers to send and receive money around the world, much like Cash App or PayPal (PYPL). The app, which launched in the U.S. in 2020, uses Bitcoin's Lightning Network for payments, which makes transfers quicker and cheaper.
Edited by Sheldon Reback.