Strike

"You shouldn’t have to sell the best-performing asset in human history to access cash. Now you don't have to," founder Jack Mallers wrote.
Jack Mallers' bitcoin (BTC) payments app Strike is set to move into the BTC lending business.
Strike plans to offer users a means of borrowing fiat while continuing to HODL bitcoin, Mallers wrote in a post on X on Wednesday.
"You shouldn’t have to sell the best-performing asset in human history to access cash. Now you don't have to," he wrote.
Strike Lending will initially be available in select regions of the U.S. with plans for international expansion.
"If bitcoin continues to grow faster than your borrowing costs, your asset appreciates faster than your debt. In other words, the gains from holding bitcoin can more than offset the interest on your loan," Mallers said.
A number of bitcoin lenders were casualties of the crypto winter that kicked off in 2022. BlockFi, Celsius and Genesis all capitulated during that period.
The entry into this sector of cryptocurrency A-listers like Coinbase suggest bitcoin lending is prime for a resurgence after the rally that followed the election of U.S. President Donald Trump in November.
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Strike, a payments app focused on Bitcoin, has revealed its expansion into Africa by launching services in seven countries. These countries are Gabon, Ivory Coast, Malawi, Nigeria, South Africa, Uganda, and Zambia.
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Founded by CEO Jack Mallers, Strike is making its foray into African markets, with plans for further expansion in the future. As a product of the Chicago-based startup Zap, Strike operates similarly to mobile payment apps like Cash App or Venmo but utilizes blockchain technology for transactions.

Empowering Financial Inclusion with Strike Africa
The introduction of Strike Africa brings a range of financial opportunities to users in select African countries. This includes the ability to buy and sell Bitcoin (BTC) and the dollar stablecoin USDT directly through the application. Furthermore, users can seamlessly transition between cryptocurrencies and traditional fiat currencies using local currency on-ramps and off-ramps provided by the app.
In addition to local transactions, Strike Africa offers users access to global payments through Bitcoin’s Lightning network. This network is renowned for its efficiency in executing low-cost, high-speed transactions, particularly beneficial for transfers and cross-border payments.
This expansion comes at a crucial time, coinciding with a growing interest in Bitcoin and stablecoins across various regions, particularly in countries facing high inflation rates and unstable financial systems like Argentina and Turkey. By providing alternative financial services, Strike Africa aims to empower individuals in African markets to navigate economic challenges more effectively and access greater financial inclusion.
Strike’s Expansion into Africa: Addressing Economic Challenges
Nigeria, Africa’s largest market, has witnessed a notable increase in crypto adoption, driven by individuals seeking digital assets to hedge against the devaluation of the local currency. The Nigerian naira has experienced a significant decline in value, dropping by nearly 50% against the U.S. dollar recently.

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Strike’s decision to expand into Africa underscores the company’s belief in the continent as a fertile ground for financial innovation and economic freedom. The company recognizes the challenges many African countries face, including high inflation rates and currency devaluation, which hinder residents’ ability to save and build wealth.
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This expansion into Africa aligns with Strike’s broader global expansion strategy, announced last year, which aims to extend operations to over 65 countries. Beyond Africa, Strike is targeting Latin America, Asia, and the Caribbean. In November, the company made its services available globally, enabling users in over 35 countries to purchase BTC through its app, albeit with a 3.9% fee for non-U.S. customers.
Recently, Strike CEO Jack Mallers announced his decision to completely divest from the U.S. dollar, emphasizing his strong commitment to Bitcoin. Mallers, a vocal advocate for Bitcoin, criticized U.S. monetary policies and highlighted Bitcoin’s potential to counter fiat debasement, citing its fixed supply and decentralized nature.

His stance reflects a broader belief in Bitcoin’s alignment with American values such as personal freedom, equal opportunity, and innovation.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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