• Strike has expanded its “Send Globally” product to the Philippines, allowing for fast, secure, and low-cost money transfers between the U.S. and the Philippines.
• The Philippines is one of the largest remittance markets, with over $35 billion in money sent from abroad, including more than $12 billion from the U.S.
• Strike has partnered with Pouch.ph in the Philippines, enabling transfers from U.S. dollars that are received as Philippine pesos in a recipient’s bank or mobile money account in the Philippines.

Today, Strike, the world’s leading digital payments platform built on Bitcoin’s Lightning Network, announced the expansion of its „Send Globally“ product to the Philippines. This expansion allows for fast, secure, and low-cost money transfers between the U.S. and the Philippines, revolutionizing traditional cross-border payment services.

The Philippines is one of the world’s largest remittance markets and its people and economy rely on more than $35 billion annually in money sent from abroad, including more than $12 billion from the U.S. alone. It is for this reason that Strike has partnered with Pouch.ph in the Philippines, enabling transfers from U.S. dollars that are received as Philippine pesos in a recipient’s bank or mobile money account in the Philippines.

Jack Mallers, Founder and CEO of Strike, said, “Remittances are a broken system and Strike delivers an incredibly empowering experience for people to send money around the world in nearly an instant. We’re excited to partner with Pouch.ph to advance financial inclusion and bring fast, low-cost cross-border payments via the Lightning Network to the Philippines. Our technology allows us to both improve on the existing cross-border experience and include those that have previously been excluded by legacy payment rails.”

By using the Lightning Network, Strike is able to make digital payments faster, cheaper, and more accessible for people globally, particularly in countries with a high number of unbanked individuals. With Send Globally, dollars are converted into bitcoin, which is sent via the Lightning Network to the corresponding currency of the recipient’s country. The recipient’s money can be sent to their bank or mobile money account in the Philippines without having to pay expensive fees or wait days for the transfer to go through.

The expansion of Strike’s „Send Globally“ product to the Philippines is a huge advancement for cross-border payments, bringing fast, secure, and low-cost money transfers to one of the world’s largest remittance markets. Through its partnership with Pouch.ph, Strike is helping to revolutionize the way money is sent and received around the world.