• Strike, a digital payments platform built on Bitcoin’s Lightning Network, has expanded its “Send Globally” product to the Philippines.
• The Philippines is one of the world’s largest remittance markets, receiving more than $35 billion in money sent from abroad each year, with $12 billion from the US alone.
• By partnering with Pouch.ph, Strike enables US dollars to be converted into bitcoin and sent via the Lightning Network to a recipient’s bank or mobile money account in the Philippines.
Strike, the world’s leading digital payments platform built on Bitcoin’s Lightning Network, has expanded its „Send Globally“ product to the Philippines. This expansion allows for fast, secure, and low-cost money transfers between the United States and the Philippines, revolutionizing traditional cross-border payment services.
The Philippines is one of the world’s largest remittance markets. The economy relies on more than $35 billion annually in money sent from abroad, with $12 billion from the United States alone. Strike’s new partnership with Pouch.ph enables US dollars to be converted into bitcoin and sent via the Lightning Network to a recipient’s bank or mobile money account in the Philippines.
This expansion by Strike is an incredibly empowering experience for people to send money around the world in nearly an instant. With the new technology, users can improve on the existing cross-border experience and include those that have previously been excluded by legacy payment rails.
Not only is Strike’s technology faster and cheaper than traditional cross-border payment services, it is also more accessible, especially in countries with a high number of unbanked individuals. With Send Globally, users can send money at a fraction of the cost of traditional payment services, and the money is received in as little as a few minutes.
Strike’s expansion of „Send Globally“ to the Philippines is an exciting development that will have a significant impact on the global remittance market. It provides an innovative solution to an age-old problem of transferring money across borders quickly, securely, and affordably.