Payments firm Strike has raised $80 million in a Series B funding round led by Ten31, a venture capital firm that primarily invests in bitcoin-native companies.
Strike is focused on Bitcoin's Lightning network, a payments protocol intended to enable fast transactions that use smaller denominations of the cryptocurrency.
The $80 million Series B round featured participation from institutions Washington University in St. Louis and the University of Wyoming, according to an announcement. With the funding, founder and CEO Jack Mallers is plotting integrations with the world's largest merchants and marketplaces.
"Every company that’s in the business of moving money is interested in superior payments, and we’re in talks with many of them," Mallers was quoted as saying. "It doesn’t get any bigger and more exciting than innovating in payments for the betterment of the world.”
In particular, Strike plans to expand partnerships for its commerce API, which is already integrated by e-commerce platforms such as Blackhawk, NCR, and Shopify. It also is plotting the launch of a new API that would allow large financial institutions and businesses to receive and send payments over the Lightning network.
Currently, the Strike Wallet, its consumer offering, has more than two million downloads to date.
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