Bitcoin and the Lightning Network are moving payments globally

Welcome back to Chain Reaction, a podcast diving deep into the stories, backgrounds and latest news with the biggest names in crypto.

For this week’s episode, Jacquelyn interviewed Jack Mallers, the founder and CEO of Strike, a bitcoin-based payment network and financial app that is trying to expand the reach of cross-border payments and remittance markets.

Last year, Mallers’ company raised $80 million in a Series B round to grow into that space, and today counts major companies like Visa, Clover and Fiserv among its partners.

“I think it’s about meeting consumers where they are and solving a problem for them,” Mallers said.

Mallers is also the CEO of Zap, a bitcoin investment and payments company that transacts on the Lightning Network, which is a second layer on Bitcoin’s blockchain that allows for off-chain transactions between parties.

“We’re a business involved with Bitcoin but we don’t care about its price,” Mallers said. “We use Bitcoin and the Lightning Network for payments, so we’re actually using Bitcoin, the instrument, to move value around the world. But our customers spend and receive dollars, or spend and receive euros, or spend and receive stablecoins.”