31 sats \ 1 reply \ @cointastical 23 Apr \ on: Strike in Europe bitcoin
How about paying directly from the app to a bank account or mobile phone to someone in eight countries in Africa,
)Ghana, Kenya, Nigeria, Rwanda, Benin, Ivory Coast, Senegal, Togo)
as well as Philippines, Guatemala, Mexico, and Vietnam.
Sure, the user doesn't actually send Bitcoin and the recipient gets fiat, but Strike is sending Bitcoin, underneath, cross-border for these remittance payments.
Send $5 and the recipient gets like $4.90-ish (depending on Strike's exchange rate vig) in their currency. Compare that to the cost with traditional remittnce and be shocked.
Best part for me is I don't deposit from my bank (though strike accepts.debit card or direct deposit), I deposit via LN (Lightning Address is usename@Strike.me), convert to USD wallet funds, and then use those funds to send the remittance.
Ah, ok, got it, that's really a cool feature, thanks!
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