A nice strike on the lightning network – Application teams Strike contribute to the adoption of payments on the second layer network of Bitcoin (BTC): the Lightning Network (NL). After having passed with flying colors a $80 million fundraiser in September 2022, Strike is now announcing its international developmentas well as an integration of the famous USDT stablecoin from Tether to its payment system.
Up to 65 new countries for Strike Lightning services
In a recent interview with Fortune newspaper, Jack Mallersthe CEO of Zap – the parent company of Strike – gave the future main lines of development of his group. The manager thus announces that Strike’s services, already present in the United States, El Salvador and Argentina, will extend to no less than 65 countries.
If, being centered on Bitcoin and his Lightning Networkthe crypto-business is not too afraid of regulators, Jack Mallers recognizes that it is a real problem in the USA. And indeed, if Zap and Strike should be less affected than others by hostility of the Securities and Exchange Commission (SEC), we notice that the group turns out of the USA, like many.
“I think Bitcoin is unique and obviously doesn’t belong to anyone. (…) All the other projects in this sector have a founding team, a foundation, and they issued tokens (…) it looks much more like securities (securities) [pour la SEC]. »
Jack Mallers, CEO of Zap
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Tether’s USDT stablecoin integrated with Strike’s flash payouts
We will also note this turn towards foreign countries through the moving house from corporate headquarters to the very crypto-friendly salvador. But another big surprise has just fallen even more recently. It is through a press release published on May 22, 2023 that Tetherissuing company of theUSDTannounces that its US dollar stablecoin will be built into the Lightning Network of Bitcoin through Strike.
The presence of the stablecoin on the LN network will allow mitigate volatility of the BTC price. It will allow Lightning users to minimize their exposure to price fluctuations. While of course continuing to benefit from the rapidity incredible (and very low fees) of this second layer network.
“We are excited to announce the integration of USDT into Strike. (…) This is a pivotal moment for the cryptocurrency industry, as it signifies the growing acceptance and recognition of stablecoins as a reliable and efficient digital payment solution. We believe this collaboration will drive widespread adoption of digital currencies, driving innovation and creating a more inclusive financial ecosystem for everyone. »
Paolo Ardoino, Technical Director (CTO) of Tether
If Strike trust to Tether to embark it on the Lightning Network, the company issuing the stablecoin do the same with Bitcoin. Indeed, after revealing that it holds a small percentage of his reservations in bitcoinsTether has announced that it wants invest 15% of its net profits in BTC.
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