Strike raises $80 million Series B

Strike, a bitcoin payment processor, has raised $80 million in Series B funding.

Ten31, a Bitcoin-focused VC firm, led the funding round, according to a statement released Tuesday.

Wyoming and St. Louis also contributed.

Money will be used to strengthen Stike's ties with local businesses.

Strike uses the Lightning Network to speed up Bitcoin transactions, making it suitable for day-to-day purchases.

Strike CEO Jack Mallers said, "Any organization that transfers money is interested in superior payments," and "we're in talks with many of them."

Mallers said, "Any money-transfer organization wants superior payments."

Strike says the company wants to develop new product lines with more funding to serve large financial institutions and enterprises.

Targeting new customers. Blackhawk, NCR, and Shopify use Strike's software.

Strike was featured in numerous news articles after it became El Salvador's Bitcoin partner.

El Salvador became the first country to recognize bitcoin as currency in December 2017.

By offering a Bitcoin wallet in El Salvador, Strike helped build the necessary infrastructure for people to use their bitcoins.

Mallers supported El Salvador's Bitcoin Law.

Mallers wanted to help El Salvadorans save money by encouraging them to use Bitcoin and the Lightning Network for remittances and other uses.

Many Salvadorans are believed to have stopped using Bitcoin or never used it, despite the government providing them with a wallet and free cryptocurrency.

Despite the government's free crypto, this happened.

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