Strike said in a press release that the new integration will allow Shopify merchants to receive payments in bitcoin in US dollars from customers around the world via the Lightning Network. “The partnership with Shopify will enable merchants to use bitcoin technology to receive dollars in a cheaper and faster way. Lightning Network is a global payments network that reduces costs and increases speed,” Mallers said.
With this partnership, customers around the world will have access to Strike’s payment service with a Bitcoin Lightning Network enabled wallet. These include more than 7 crore Cash app users. There are about four lakh stores associated with Blackhawk Network.
Mallers said that this facility will also be made available to offline merchants. These include big companies like Walmart and McDonald’s. It has a large number of merchants doing business in the US. Recently a school in Dubai started accepting tuition fees in Bitcoin and Ether. It will be the first school in the Middle East to do so. Citizens School has taken this decision after the recent implementation of the law regulating virtual assets in Dubai. For this, a tie-up has been made with a digital currency platform that processes cryptocurrency payments. UAE Prime Minister Sheikh Mohammed bin Rashid Al Maktoum made it law last month by signing a bill for virtual assets. Along with this, the Virtual Asset Regulatory Authority (VARA) was also created to control the crypto segment.
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