Skip to main content

Strike, a Bitcoin Exchange, Raise $80M in Series B Funding

 

Strike, a Bitcoin Exchange, Raise $80M in Series B Funding

Bitcoin payment processor Strike has raised an additional $20 million in Series B funding, bringing the total to $80 million.

A statement issued on Tuesday indicated that Ten31, a VC firm that focuses on Bitcoin companies, was the driving force behind the funding round.

There were, however, additional financial contributions from Wyoming's University and Washington University in St. Louis.

Stike will use the funds to strengthen its existing relationships with area businesses.

The Lightning Network, which is used by Strike, is designed to speed up Bitcoin transactions, making it more practical for use in everyday transactions like buying goods online.

Strike's CEO and founder Jack Mallers was quoted as saying in a statement, "any organization that is in the business of transferring money is interested in superior payments" and "we're in talks with many of them."

"Any organization that is in the business of transferring money is interested in superior payments," Mallers was quoted as saying.

Strike claims that the company plans to use the extra cash to develop new product lines that will target institutional investors and large businesses.

.net/YwotbKdP4sVunJGfdhmgww/e8f260a6-84bf-4222-a093-e1ef14e44c00/

The advertising campaign will focus specifically on these potential new clients. Major e-commerce players like Blackhawk, NCR, and Shopify have already adopted Strike's solutions.

It was widely reported that Strike had partnered with El Salvador on its Bitcoin initiative.

In December of 2017, El Salvador made international headlines by becoming the first country to legalize bitcoin as legal tender.

Since Strike made a Bitcoin wallet available in El Salvador, the country now has a key component of the infrastructure necessary for Bitcoin to be used there.

Mallers was a strong advocate for the Bitcoin Law's passage in El Salvador.

Mallers claims that the initiative's goal was to help people in El Salvador save money by promoting the use of cryptocurrencies like Bitcoin and the Lightning Network for transactions like remittances.

Publications claim that many Salvadorans have either stopped using Bitcoin or were never using it in the first place, despite the fact that the government has released its own wallet for residents and is providing them with free cryptocurrency.

And this happened despite the fact that the government gave them free cryptocurrency.

Comments

Popular posts from this blog

After the demise of FTX, Goldman Sachs apparently intends to acquire cryptocurrency companies.

Mathew McDermott, a Goldman Sachs executive, stated that his firm is already conducting due diligence on a number of cryptocurrency companies. As the current FTX crisis impacts crypto company valuations, the financial services firm Goldman Sachs intends to invest millions to purchase or invest in crypto companies while their prices are low. Mathew McDermott, an executive at Goldman Sachs, reportedly stated in an interview with the mainstream media outlet Reuters that large banks see opportunities in the market as a result of the FTX crash highlighting the need for additional regulation within the business. The CEO noted that the company is now observing chances that are "more reasonably priced" and is conducting due diligence on a number of crypto startups. McDermott stated in his analysis of the FTX catastrophe that the market's attitude experienced setbacks. Nonetheless, the traditional finance executive emphasized that although FTX has become the "poster child...

Unlocking the Secrets of the World of Finance

  In today's fast-paced global economy, understanding the intricacies of finance is paramount for both individuals and businesses alike. Finance serves as the lifeblood of any economic system, fueling growth and prosperity. Our team at AIPRM Corp is dedicated to providing you with comprehensive insights into the world of finance. In this article, we delve deep into the financial landscape, unraveling its various components and complexities. Navigating the Financial Landscape Finance: A Holistic Perspective Finance encompasses a wide array of financial instruments and institutions, each playing a unique role in the broader financial system. At its core, finance involves the management of money, investments, and assets. Our comprehensive exploration of finance will leave you well-informed, whether you're a seasoned investor or a newcomer to the world of finance. Financial Markets and Instruments The world of finance thrives within a complex web of financial markets and instrument...

60 billion pound financing package for English authorities

Michael Gove, the Secretary of State for Levelling Up, has today (19 December 2022) agreed a nearly £60 billion package for councils in England for the next fiscal year, ensuring that councils can continue to provide essential frontline services. The settlement means councils throughout England will receive an additional £5 billion, a 9% increase over last year's settlement, as the government continues to support councils and public services despite mounting financial pressures. The agreement for the following year contains a one-time Funding Guarantee that ensures every council in England will get at least a 3% increase in core spending power before any local decisions are made regarding council tax. Alongside this, the government confirmed today a new £100 million scheme for councils to safeguard the most vulnerable households from council tax hikes, fulfilling the campaign pledge to protect local taxpayers from excessive increases. Social care is also a priority, with the govern...