• Strike, world’s leading digital payments platform, has expanded its “Send Globally” product to the Philippines.
• The expansion enables fast, secure, and low-cost money transfers between the U.S. and the Philippines.
• This revolutionizes traditional cross-border payment services and serves as an empowering experience for people to send money around the world in nearly an instant.
Strike Expands “Send Globally” to the Philippines
Strike, the world’s leading digital payments platform built on Bitcoin’s Lightning Network, announced today that it is expanding its “Send Globally” product to the Philippines. This will enable fast, secure, and low-cost money transfers between the U.S. and one of the world’s largest remittance markets.
Revolutionizing Traditional Cross-Border Payment Services
The Philippines relies on more than $35 billion annually in money sent from abroad, including more than $12 billion from the U.S.. By partnering with Pouch.ph in this country, Strike is able to facilitate transfers from U.S dollars that are received as Philippine pesos in a recipient’s bank or mobile money account within this market – revolutionizing traditional cross-border payment services in this way..
Empowering Experience for People to Send Money
Jack Mallers, Founder and CEO of Strike said: “Remittances are a broken system and Strike delivers an incredibly empowering experience for people to send money around the world in nearly an instant.” By using Bitcoin’s Lightning Network for digital payments that are faster and cheaper, Strike aims at improving financial inclusion in countries with a high number of unbanked individuals by making these services accessible for them as well.
Utilizing Bitcoin without Tax Treatment Implications
Through Send Globally dollars are converted into bitcoin which is then sent via the Lightning Network directly to a third-party partner operating within recipient’s country where it is then converted into local currency which is sent directly into recipient’s bank or mobile money account – allowing both sender and receiver not having to worry about bitcoin’s tax treatment or dollar volatility implications while also completely eliminating custody issues associated with such transactions as well.
Pouch Partnership Revolutionizes Cross-Border Payments
Ethan Rose (Founder & CEO of Pouch) noted: “With integration of Pouch & Strike we’re revolutionizing way cross-border payments are made; empowering people easily send & receive funds across borders quickly & securely.” He concluded emphasizing how their partnership will make sure Filipino Americans have access better options than outdated ones currently available through legacy payment rails systems like banks etc