Today, the eagerly awaited European debut of the widely-used Bitcoin and Lightning Network payments app, Strike, was officially announced. This launch allows eligible individuals and businesses across the region to engage in various bitcoin-related activities, including buying, selling, sending, and withdrawing bitcoin, as well as facilitating local currency payments.
European Bitcoin enthusiasts had been eagerly anticipating Strike’s arrival, prompting many to inquire about its European launch timeline. In response, founder and CEO Jack Mallers emphatically declared, “Now!” This statement, shared with The Block, comes after observant users in select European countries noticed Strike appearing on app stores before the official announcement.
The custodial iOS and Android app enables European users to purchase bitcoin directly using free and unlimited SEPA euro deposits from their bank accounts, with instant availability where supported. Users can also schedule recurring purchases, leveraging the Single Euro Payments Area (SEPA) initiative for streamlined euro-denominated bank transfers.
Strike empowers customers to sell bitcoin and withdraw funds to their bank accounts, transfer to their self-custodial wallets, or make payments via the Bitcoin or Lightning Network without limitations. Notably, the app also facilitates “free” on-chain withdrawals, assisting users during periods of network congestion. However, users should expect a target confirmation time of approximately 24 hours, with faster transactions requiring variable fees.
Harnessing the Lightning Network, Strike operates as a network of bi-directional payment channels atop the Bitcoin blockchain, enabling swift and cost-effective micropayments. All Strike customers possess a Lightning Address in the format of [email protected], streamlining the payment receipt process compared to traditional Lightning invoices.
Strike users can opt to receive Lightning Address payments in bitcoin or euros, with automatic conversion available for the latter. Senders have the flexibility to choose between sending from their bitcoin or euro balances. Moreover, users can generate zero-value Lightning invoices to receive bitcoin to their balances in either currency from external wallets using the app.
European users can also utilize Strike’s global peer-to-peer transfers via Lightning, enabling instantaneous transfers from their euro balances to friends’ Strike accounts worldwide. These transfers can be received as bitcoin, euros (within Europe), U.S. dollars (in the U.S.), or USDT (in select global regions). Additionally, Strike’s “Send Globally” feature facilitates fast, low-cost local currency remittances to supported regions, leveraging Bitcoin’s Lightning Network as a global payment infrastructure.
With its swift expansion, U.S.-based Strike has traversed from Latin America to Africa, now serving users in over 70 countries. Mallers emphasized Bitcoin’s transformative potential and Strike’s mission to cater to millions seeking access to Bitcoin across Europe, a region with vast economic opportunities and significant population size.
