Strike Partners With Shopify; Merchants to Accept Bitcoin

Changelly
Bitcoin 2022: Strike CEO Announces String of High Profile Partnerships
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Strike CEO Jack Mallers announced a series of strong partnerships at Bitcoin 2022 in Miami on Thursday, including with Shopify, NCR and Blackhawk Network.

Strike, a digital payments platform based on the Bitcoin Lightning Network, announced a partnership with Canadian e-commerce giant Shopify. The partnership will allow Shopify online card transactions to process bitcoin payments using bitcoin’s Lightning Network.

Through the Lightning Network, Shopify merchants will now be able to receive bitcoin payments in U.S. dollars from customers around the world, helping to diversify their payment options, enter new global markets, and increase their purchasing power through Strike’s integration.

“The Lightning Network is a global payments network that reduces costs, increases speed, drives innovation, increases financial inclusion, and brings the power of choice to consumers and merchants,” said Strike CEO Jack Mallers. “We’re proud to partner with Shopify to provide merchants a cheaper and faster way to accept U.S. dollars using bitcoin technology.”

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Mallers, an ardent Bitcoin enthusiast and Lightning Network advocate, spoke to a packed audience on the main stage at the Miami Beach Convention Center. “You’ll be able to walk into millions of U.S. storefronts that plug into the payment backbone and make payments over the Lightning Network,” he shared to attendees.

NCR/Blackhawk Partners

Forbes 30 Under 30 alumni also noted that the Chicago-based payments platform has partnered with NCR, the world’s largest point-of-sale (POS) provider, and payments company Blackhawk.

By leveraging the Lightning Network, the integration provides an alternative to traditional credit networks like Mastercard or Visa. This allows users to send and receive cryptocurrencies quickly and cheaply by moving transactions off the main blockchain.

Mallers also revealed that anyone with a Lightning-enabled wallet can use the service.

Major retailers open doors to welcome strike

Major retailers including Walmart, Macy’s, Starbucks, Home Depot, Chick-Fil-A and Best Buy were quick to welcome Strike’s presence following Maller’s announcement. The CEO said that more than 400,000 stores will now start accepting bitcoin through the Lightning Network, significantly reducing overhead costs.

“This is about America, and we need to protect our ability to innovate,” explained Mallers. He is extremely dissatisfied with the innovative capacity of the existing financial system. “Not since 1949 has a preeminent payment network enabled us to innovate, build on financial inclusion, provide cheaper service, faster service. My grandfather used the same technology as I do.”

Dorsey, Robin Hood ecstatic

Mallers’ presentation was generously supported, with Block CEO Jack Dorsey publicly expressing his support.

CNBC host and Crypto Banter founder Ran NeuNer also took to Twitter:

“I don’t think anyone understood the real significance of what @jackmallers announced today. It changed everything,” he said.

Mallers’ announcement could also lead to a surge in mainstream adoption of the Lightning Network. On Tuesday, Robinhood (HOOD) announced that its new wallet will allow bitcoin transactions on the Lightning Network, while Lightning Labs announced the opening of the Lightning Network to stablecoins and fiat currencies via the Taro protocol.

Another application of the Lightning Network is Strike’s integration with Twitter, which will allow users to tip creators through Tip Jars, who can send payments without paying a first-tier fee.

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