Major news coming from the ongoing Bitcoin Conference 2022 in Miami! The digital payments platform Strike announced its integration with e-commerce giant Shopify to allow millions of merchants across the world to accept payments in Bitcoin.
Strike said that the integration with Shopify has been designed with absolute ease of use for merchants. This integration will allow merchants to easily accept Bitcoin payments from customers worldwide in the form of U.S. Dollars.
Besides, customers can save costs on processing fees through cash-final settlements. With the latest Strike integration, Shopify merchants can diversify their existing payment options to reach untapped global markets.
Strike will leverage the Layer-2 solution Lightning Network to instantly convert Bitcoin payments to USD. This will help to avoid any major price volatility in the BTC price. Speaking about this development, Jack Mallers, founder and CEO of Strike said:
“We’re proud to partner with Shopify to provide merchants with a cheaper and faster way to accept U.S. dollars using Bitcoin technology. The Lightning Network is a global payments network that lowers costs, enhances speed, drives innovation, improves financial inclusion, and brings the power of choice to consumers and merchants.”
Speaking at the Bitcoin Conference 2022, Miller said that this provision will be extended even to offline merchants. This includes giants like Walmart and McDonald’s. This also includes a comprehensive list of several merchants operating across the United States.
While announcing this major transformation in digital payments, Miller took this moment to lash out at the traditional financial institutions. He added:
“There’s not been since 1949 a superior payments network that allows us to innovate, build on financial inclusion, offer cheaper services faster services. My grandfather used the same technology as I do. That’s not American, that’s bullshit.”
Miller has received praise from some of the top Bitcoin proponents like Jack Dorsey.
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