Visa-backed Bitcoin startup to launch Lightning-based global payments app

Cointelegraph

Published Jan 07, 2021 08:04AM ET

Updated Jan 08, 2021 10:00AM ET

Zap, a Lightning Network payments startup backed by Visa (NYSE:V) through its Fintech Fast Track program, announced on Wednesday the rollout of Strike Global, a payments and remittances app using the Bitcoin layer-two technology.

An announcement by CEO Jack Mallers goes in-depth into the differences between standard fiat transfer mechanisms and the Lightning-powered mechanism in Strike Global. Mallers focused on remittances, a multibillion-dollar business that is still largely passed through expensive middlemen.

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