Strike moves headquarters to El Salvador

Due to obstructive regulations, crypto-payment service provider Strike is leaving the US. El Salvador welcomes Strike with open arms.

Payment provider Strike expands its services to 65 countries and is simultaneously moving its headquarters to El Salvador. The reason for the move is according to CEO Jack Mallers the growing anti-crypto regulatory sentiment in the United States.

While regulations prevent Strike from operating the service in the U.S., El Salvador offers crypto-friendly regulations to attract technological innovation in the region, he said.

Mallers said the expansion is intended to counter the "murky world of crypto exchanges and hidden, unregistered licensing schemes." In addition to Strike, crypto exchange Bitfinex is one of the first companies to launch a operating license has received in El Salvador.

With the integration of online shopping service Shopify in April 2022, Strike is putting the Lightning network on the road to mass adoption. In 2021 El Salvador became the first country which introduced Bitcoin as legal tender.