App for mobile payments Strike has teamed up with Shopify, Blackhawk Network, and NCR, a point-of-sale provider, to develop a new US payment system that allows businesses to immediately receive payments in dollars once customers pay with cryptocurrency.
Bitcoin [BTC] and other cryptocurrencies have far outgrown their infancy in terms of adoption. Crypto payments and transactions aren’t just for the crypto business anymore. Strike’s CEO, Jack Mallers, recently announced that the company was integrating Bitcoin into some of the top payment processors, including NCR, Blackhawk, and Shopify. Any platform that uses these processors will be able to use Bitcoin’s Lightning Network to conduct transactions.
This would allow Bitcoin users to pay for a burger at McDonald’s or a cup of coffee at Starbucks. Now you can shop for groceries at Walmart using cryptocurrency.
Mallers stated at the Bitcoin 2022 conference that the goal of the integration was to eliminate banks. He wants to save retailers money by reducing fees and giving customers more privacy during the payment process. He continued,
“Any online merchant that uses Shopify can accept payments without the 1949 boomer network, receive it instantly, cash final, no intermediary, no 3% fee.”
Bitcoin’s value would skyrocket as a result of this integration. Mallers mentioned the companies that would be using Bitcoin’s Lightning Network for payments during his presentation. According to the presentation, the Lightning Network will now offer BTC in around 400,000 stores.
Strike CEO’s pro-Bitcoin stance hailed by Jack Dorsey
The latest announcement left Twitter speechless. Several people spoke up to emphasize the gravity of the statement. Jack Dorsey, the former CEO of Twitter, has been a prominent backer of Bitcoin. As a result, he went on to describe the Strike CEO, Jack Mallers as an inspiration for increasing Bitcoin usage.
Furthermore, this connection is projected to elevate Bitcoin even higher. While further information from the aforementioned retailers is still pending, BTC has seen a little increase. The world’s largest cryptocurrency was trading for just $42,964.02 with a daily drop of 1.46%, at the time of writing.