The expansion drive, according to Strike CEO Jack Mallers, intends to combat the “clouded world of crypto exchanges and hidden unregistered licensing regimes, and 1,000 different coins.”
A Bitcoin payment company called Strike has expanded its service area to 65 countries and relocated its worldwide headquarters there. Only the US, El Salvador, and Argentina had access to the mobile app in the past. The expansion attempts to allay worries about the complexity and lack of transparency in regulatory regimes and crypto exchanges.
Strike Expands Amid Regulatory Challenges
The decision to move the company’s headquarters to El Salvador was spurred by the growing regulatory obstacles encountered in the United States, according to Jack Mallers, CEO and founder of Zap, the parent company of Strike.
By making the change, Strike is able to go around regulations and benefit from El Salvador’s welcoming environment for bitcoin innovation and adoption.
Strike will initially just let customers in the new international markets receive Bitcoin, but Mallers indicated plans to roll out other services by the end of the year, including a debit card.
Strike will make it possible for Tether payments in U.S. dollars for markets outside of the U.S.
Related: El Salvador removes all taxes related to tech innovation for economic growth
