- Strike’s ‘Send Globally’ platform is to be rolled out in the Philippines
- The deal with Pouch.ph comes just weeks after three African countries agreed to trial it
- The Philippines sees $35 billion in remittances annually
Lightning Network-enabled Bitcoin payments platform Strike has expanded its Send Globally platform to the Philippines following its trial in three African countries last December. Strike has partnered with existing platform Pouch.ph in order to tap into the $35 billion that Filipinos annually receive as remittance from foreign countries, with bitcoin now able to be used as an alternative to fiat currencies.
Strike Continues Lightning Network Rollout
Strike has been on a mission to bring new countries into its stable, following on from its use by El Salvador in 2021 as its Bitcoin payments infrastructure. Founder and CEO Jack Mallers said at the time that he wanted to see Strike operating in at least 50 countries, and he’s certainly going the right way about it. Nigeria, Kenya, and Ghana all began trialing Strike’s Send Globally platform last year, and the company has now moved onto Asia thanks to a tie-in with Pouch.ph.
Project Aims to Increase Inclusivity
Pouch.ph enables transfers from U.S. dollars that are received as Philippine pesos in a recipient’s bank or mobile money account in the Philippines. The addition of Bitcoin through the Lightning Network could be a great opportunity to expose the 1.7 million-plus foreign workers who routinely send money home to the country.
In a press release announcing the partnership, Mallers extolled the virtues of Strike being used in this manner:
We’re excited to partner with Pouch.ph to advance financial inclusion and bring fast, low-cost cross-border payments via the Lightning Network to the Philippines. Our technology allows us to both improve on the existing cross-border experience and include those that have previously been excluded by legacy payment rails.
No doubt there will be more such additions as 2023 rolls on.