The popular digital wallet built on Bitcoin’s Lightning Network – Strike – announced its launch in Argentina. As a result, the company aims to grant “superior financial experience” to a country that faces a high level of inflation and other monetary issues.
Strike’s Latin American Expansion
Jack Mallers – Founder and CEO of Strike – confirmed the news in a recent tweet. He opined that bitcoin could “give hope to the people of Argentina.“ Despite being the third-biggest economy in Latin America, the nation has been battling high inflation levels for years.
🇦🇷 Welcome, Argentina! 🇦🇷
Today, we launch a superior financial experience to a country that faces hyperinflation, predatory payment networks, and unusable cross-border transfers
— Jack Mallers (@jackmallers) January 11, 2022
According to a separate statement, the CEO classified the South American state as one of the “most exciting countries for building the Bitcoin economy.” Strike’s launch will enable Argentineans to hold a “stable cash balance that can be spent both instantly and with no fees,” he outlined. Mallers also described the Bitcoin network as a superior monetary system that brings “basic human freedoms.”
Strike is currently working with businesses and individuals in Argentina. The firm has already launched initial services to the residents of the southern city of San Martin de Los Andes, located in Patagonia. Strike has also quadrupled its team in the region.
The start-up vowed to continue expanding to more countries in South America, such as Brazil and Colombia, throughout 2022.
“Bitcoin is the first and only monetary network in human history that works everywhere and is open to everyone. It functions in New York, San Salvador, and Buenos Aires equally. We’ll continue expanding throughout all of Latin America and globally until everyone has reliable access to the world’s best monetary network,” Mallers said in conclusion.
Strike Played a Vital Role in El Salvador
The company launched its mobile payments app in El Salvador last March, six months before the country officially accepted BTC as legal tender inside its borders. Back then, Mallers described the move as a “shot heard ‘round the world for bitcoin.”
The exec also claimed that the development would unleash the potential of the leading cryptocurrency for daily use cases on “an open network that benefits individuals, businesses, and public sector services.”