Africa has a new way to make cross-border payments thanks to Strike, a digital payments platform built on Bitcoin\u2019s Lightning Network, which now has a new \u201cSend Globally\u201d feature that allows users in the US to send money instantly and at low cost to Nigeria, Kenya, and Ghana.<\/p>\n
\u201cThe current financial system isn\u2019t meeting the needs of the developing world,\u201d said Jack Mallers, Founder and CEO of Strike. \u201cHigh fees and slow, outdated methods make it hard for people to send money to their loved ones in Africa. With Send Globally, we\u2019re offering a better way to transfer funds across borders.\u201d<\/p>\n
According to Strike\u2019s 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\u2019s bank, mobile money, or Bitnob account.<\/p>\n
Bernard Parah, Founder and CEO of Bitnob, had this to say:<\/p>\n
\u201cOur 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.\u201d<\/p>\n
Strike plans to continue expanding its payment services to Africa through partnerships and integrations, including with Chipper Cash, one of Africa\u2019s largest cross-border payment providers.<\/p>\n