Strike
Basics
Tech
"In January, Mallers outlined a plan to offer remittances of dollar value from the U.S. to El Salvador using Bitcoin and its second-layer Lightning Network as rails. Initially, the dollars were to show up in the destination country in the synthetic form of Tether’s USDT stablecoin, but Mallers recently said that the controversial token is being phased out of Strike’s plan."
Compliance
“They do not touch the money at all, ever,” Prime Trust CEO Scott Purcell told CoinDesk. “We open the accounts, we touch the money, we do all the AML/KYC”
Usage
Competition
- Coinbase, Square, Paypal, etc.
- Besides having lower fees than the above, Coinbase also differs in listing strategy (2-7-2021);
"Coinbase defines its market differently than Strike. Armstrong recently said he wants Coinbase to list every crypto asset wherever it legally can, and the company already supports more than 70. Strike, by contrast, is laser-focused, so to speak, on leveraging Bitcoin and Lightning to further financial inclusion."
Pros and Cons
Team, Funding and Partnerships
- Is a subsidiary of Zap Technologies (2-7-2021).
- Jack Mallers; CEO
- Is partnered with Prime Trust, which enables it to operate in the whole of the USA (2-7-2021).
