Africa has a new way to make cross-border payments thanks to Strike, a digital payments platform built on Bitcoin’s Lightning Network, which now has a new “Send Globally” feature that allows users in the US to send money instantly and at low cost to Nigeria, Kenya, and Ghana.
“The current financial system isn’t meeting the needs of the developing world,” said Jack Mallers, Founder and CEO of Strike. “High fees and slow, outdated methods make it hard for people to send money to their loved ones in Africa. With Send Globally, we’re offering a better way to transfer funds across borders.”
According to Strike’s press release, to enable instant payments to Africa, Strike has partnered with African payments platform Bitnob. Using Lightning rails, Send Globally allows users to send money instantly to Nigeria, Ghana, and Kenya with no transaction fees. Payments are converted into the local currency and deposited directly into a recipient’s bank, mobile money, or Bitnob account.
Bernard Parah, Founder and CEO of Bitnob, had this to say:
“Our partnership with Strike is a game-changer for Africa. Not only does it make it easier and cheaper for people to send and receive money, but it also provides a more efficient way for our financial institutions to access USD liquidity. This means people can save billions of dollars in transfer fees when sending money home to Africa.”
Strike plans to continue expanding its payment services to Africa through partnerships and integrations, including with Chipper Cash, one of Africa’s largest cross-border payment providers.
Image Credit
Featured Image via Pixabay
