The world’s leading digital payments platform on Bitcoin’s Lightning Network, Strike, announces integration with Shopify to enable US merchants to receive bitcoin payments from customers all over the world as US dollars.
Strike and Shopify Integration
Strike, the simple-to-use platform for buying bitcoin has integrated with a leading e-commerce company Shopify to make it easy for merchants to receive bitcoin payments in dollars. The CEO of Strike, Jack Mallers, announced this at the Bitcoin conference 2022.
Jack Mallers noted that the Shopify integration is in partnership with Blockchain 50 lister NCR, the world’s largest point-of-sale (POS) supplier, and payments firm Blackhawk.
He remarked how proud Strike is to partner with the e-commerce company to make it easier for merchants to receive dollars using the bitcoin technology.
“The Lightning Network is a global payments network that lowers costs, enhances speed, drives innovation, improves financial inclusion, and brings the power of choice to consumers and merchants.”
Jack Mallers, founder and CEO of Strike.
Also with this integration, Shopify merchants can accept payments globally and save costs on processing fees, with cash-final settlement. Strike’s integration enables Shopify merchants to diversify their existing payment options and reach untapped global markets and purchasing power. Strike’s integration also allows Shopify merchants to generate savings through low-cost payment processing. By instantly converting bitcoin payments to dollars, Strike removes certain complexities merchants face in holding bitcoin.
The Strike integration offers an alternative experience to traditional card networks by leveraging the underlying technology of the Bitcoin Lightning Network to allow for instant, global, cash-final payments while also eliminating legacy processing fees like interchange. Strike’s integration is accessible by any consumer in the world with a Bitcoin Lightning Network-enabled wallet, including more than 70 million CashApp users.
The announcement underscores the growing adoption of the Lightning Network. Earlier in the day, Robinhood unveiled plans to integrate the solution into its technology stack, joining firms like cryptocurrency exchange Kraken, Twitter, and Block.
On Tuesday, the California-based developer of the Lightning Network, Lightning Labs, introduced a new protocol that, it hopes, will open Lightning Network to assets other than bitcoin, including stablecoins and fiat currencies.
About Strike
Strike allows users to send and receive payments anywhere, instantly, for no added fees. Strike is built on top of the Bitcoin network – the largest global, interoperable, and open payments standard. Strike believes that open payment networks enable universal participation in the financial system, ushering in a new digital economy with truly borderless money transfers. Strike leverages Bitcoin’s open payment network to offer users the first global peer-to-peer payments app and a novel bitcoin-native financial experience
