Cryptocurrency News & Updates

Bitcoin payment app Strike explains why shifted headquarter to El Salvador

Because of the increasing legal pressure in the US, the Strike team is confident with its past decision to shift headquarters to El Salvador. 

Strike is a popular payment app, which allows users to send and receive instant payments as well as buy and sell bitcoin. Zap is the backend company behind the Strike app & Jack Mallers is the founder and CEO of Zap. The headquarter of this firm is in El Salvador, where Bitcoin is legal tender. 

Recently at the Bitcoin in 2023 Miami conference, Jack said that he aims to make the strike app as simple as possible and push the Strike app among 3 billion users via expanding business in more than 65 global markets. 

Zap CEO said:

“We think there are billions of people that want a money app with those characteristics and capabilities contrasted to a clouded world of crypto exchanges and hidden, unregistered licensing regimes and 1,000 different coins”

Jack said that when Zap relocated headquarters to El Salvador around 2 years ago, people made fun of the decision but now people can see that decision was right. 

Zap CEO addresses the legal pressure on the top regulated firm Coinbase, to explain the level of bad environment in the US under the leadership of the United States Securities and Exchange Commission (SEC) chairman Gary Gensler.

At the present time, the services of the strike app is available in the U.S., Argentina, & El Salvador. Now Strike will expand its services to other jurisdictions.

So far, the top popular crypto firms Coinbase, Gemini, Galaxy Digital, and Ripple decided to expand services outside the US jurisdiction because of the legal dispute with the US regulators. 

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