Strike announced plans to improve remittance payments into Africa via the Lightning Network on Bitcoin, thanks to the partnership with the mobile app Bitnob
Lightning Network to Facilitate Remittances to Africa. Source: shutterstock.com
On the stage of the AfroBitcoin conference, Strike CEO Jack Mallers announced that the crypto payments company has?partnered with the mobile app Bitnob to facilitate remittance into Africa.
The new service will utilise?the layer-2?Lightning Network?built on Bitcoin. The feature called “Send Globally” will enable instant, low-cost payments to Africa, while customers don’t necessarily use Bitcoin themselves.
Dollar payments will be instantly converted into African currencies such as naira, cedi or shillings. The money gets directly?deposited to recipients’ bank accounts, mobile money wallets, or Bitnob accounts. The new remittance service will incur no transaction fees. It is currently available in Nigeria, Ghana and Kenya.
In addition, Strike will expand payment services to Africa through integrations and partnerships with local fintechs. These include Chipper Cash – one of Africa’s largest P2P and cross-border payment service providers.
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Nina Bobro
Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.
