Strike, a famous Lightning Network-based digital wallet announced its debut in Argentina. The expansion aims to deliver a “great financial experience” to a nation struggling with rising inflation and other monetary issues.
In a recent tweet, Strike’s founder and CEO, Jack Mallers, confirmed the news. He said that bitcoin may “inculcate hope in the people of Argentina.” Despite being Latin America’s third-biggest economy, the country has struggled with severe inflation for years.
According to the CEO, the South American state is one of the “most exciting locations in which to establish a bitcoin economy.” Strike’s introduction would provide Argentines with “a stable cash balance that can be used instantly and for free.” Mallers also praised the Bitcoin network as a unique monetary system promoting “basic human freedom.”
Strike works with businesses and people in Argentina at the moment. The firm has already begun providing services to Patagonia’s San Martin de Los Andes residents. The Strike has also tripled the size of its local team.
In 2022, the start-up has committed to expanding into more South American nations, including Brazil and Colombia. Mallers concluded as follows:
Bitcoin is the first and only monetary network in human history that operates globally and is accessible to everyone. It is effective in New York, San Salvador, and Buenos Aires. We want to continue expanding across Latin America and the rest of the globe until everyone has dependable access to the world’s most excellent monetary network.
Strike debuted its mobile payment software in El Salvador in March, six months before the government recognized Bitcoin as legal tender inside its boundaries. Mallers called the action “a shot heard around the globe for bitcoin” at the time.
Additionally, the director said that by doing so, he would unlock the potential of a leading cryptocurrency for daily use cases via an “open network that benefits people, businesses, and public sector services.”
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.