Lightning Network platform Strike has been the undoubted winner at Bitcoin Miami thanks to its expansion plans, which include support in 65 more countries and support for Tether (USDT). Strike has been promising large-scale adoption since early 2022, and it finally seems as if its plans are reaching fruition, with the adoption of Tether being an unexpected surprise that will mitigate against Bitcoin’s price volatility for users.
Strike Expands to 65+ Countries
Strike’s first big announcement came on Friday when it announced an expansion of its services to over 65 countries worldwide, bringing Bitcoin to all four corners of the globe. Strike and its CEO Jack Mallers had promised such expansion, but until the announcement the platform was still only available in full in Argentina and El Salvador, with trials taking place in three African countries and the Philippines.
we goin global 🌎🌍🌏
the global money app for fast, safe payments and #bitcoin is now available for 3 billion people in 65+ countries
open networks win ⚡️ https://t.co/Jsa81kT6pb pic.twitter.com/PaLiCjcMl3
— Strike (@Strike) May 23, 2023
Mallers explained at the Bitcoin Miami conference and later in a press release just how important it was to offer the world a safe, cheap, and easy-to-use Bitcoin platform:
“Everyone on planet Earth should have easy access to money that can’t be inflated by governments and a payments network that can’t be influenced by intermediaries. Emerging market economies have long been plagued by financial uncertainty, inflation, and predatory services threatening people’s ability to save, invest, and achieve financial stability. Bitcoin fixes this.”
Mallers added at the time that a better Bitcoin payment platform is key to its adoption, saying that using Bitcoin through Strike is “an experience billions of people need,” which they can now try thanks to this expansion.
Tether Addition Reduces Risk
If this global expansion wasn’t enough, Strike also announced support for USDT at the conference, allowing users to send the stablecoin to each other in seconds. Tether CEO Paolo Ardoino called the move 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.”
Indeed, the fact that Strike users are now able to send funds to each other without having to worry about Bitcoin’s price volatility is a huge step forward for utility and will hopefully ease the concerns of those who stay away from using Bitcoin on a regular basis for this reason.