Strike Allows Instant Money Transfer To African Countries

Through its “Send Globally” function, Strike, a payments platform built on Bitcoin’s Lightning network, allows quick and low-cost transfers to Nigeria, Kenya, and Ghana for US consumers.

According to a press release, the new functionality is supported by a collaboration with African payments platform Bitnob. The crypto payments are quickly translated into naira, cedi, or shillings and placed into the recipient’s bank account, mobile money account, or Bitnob account.

Strike has teamed with Bitnob, an African payment network, to facilitate rapid payments to Africa. Strike’s Make Globally product now uses Lightning rails beneath the hood to enable consumers in the United States with a cheaper, quicker, and more inventive option to instantaneously send payments to Africa.

A Strike user may utilize Send Globally to send money to Nigeria, Ghana, and Kenya instantaneously and with no transaction fees. Payments are quickly translated to naira, cedi, or shillings and put straight into the bank, mobile money, or Bitnob account of the receiver.

Send Globally accelerates, reduces the cost of, and simplifies remittances to Africa, particularly in nations with few choices for cross-border money transfers.

Strike founder and CEO Jack Mallers said:

“With exorbitant fees to transfer funds in and out of Africa and incumbent providers halting services, payments companies are struggling to operate in Africa and people cannot send money home to their family members. Strike offers an opportunity for people to transfer their US dollars easily and instantly across borders.”

Strike will continue to expand payment services to Africa through integrations and experimental partnerships, including one with Chipper Cash, Africa’s leading peer-to-peer and cross-border payment service provider.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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