Lightning Network Strike Launches New Visa Card

Jack Mallers’ Strike has announced a new Visa card to pair with its crypto payments app. The card will give users a way to earn rewards on crypto payments.

Strike Launches New Visa Card

The Lightning Network-based cryptocurrency payment platform Strike just unveiled a new Visa card that will reward consumers for their purchases.

The company announced the launch on its Twitter on August 12, telling users they can now “take Strike anywhere and earn rewards on everyday spending.” The rollout will begin with a waitlist.

One of the more well-known apps developed on the Lightning Network, a Layer 2 protocol intended to speed up transactions based on the Bitcoin currency, is Strike. The app gained notoriety in April after CEO Jack Mallers disclosed a partnership with Shopify that would let retailers accept cryptocurrency payments but pay out in dollars.

Users will be able to use the new card for direct deposits, to receive payments in bitcoin, to buy bitcoin, to transfer and receive money, to make purchases using Apple Pay and Google Pay, and to earn incentives, according to a series of tweets from Strike.

Additionally, it stated that 1% of all card-related earnings would go toward funding open-source Bitcoin development.

With support from Valor Equity Partners and Baillie Gifford, Lightning Labs, a company that guides most of the Lightning Network’s development, raised $70 million in a Series B fundraising round in April.

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