Strike, a bitcoin payments company, has successfully closed a Series B funding round, bringing in a total of $80 million.
Ten31, a venture capital company that specializes in Bitcoin startups, led the investment round, according to a statement published on Tuesday.
However, funding was also used by the University of Wyoming and Washington University in St. Louis.
Strike will use the money to strengthen his current relationships with neighborhood companies.
Strike takes use of the Lightning Network, a system that accelerates Bitcoin transactions so that they can be utilized for everyday transactions.
According to a statement from Jack Mallers, the founder and CEO of Strike, "we're in talks with several of them," and "any firm that is in the business of transferring money is interested in superior payments."
According to Strike, the company plans to develop new product lines with the additional funding to cater to new types of customers, such as important financial institutions and businesses.
Major online retailers including Blackhawk, NCR, and Shopify have already incorporated Strike's software.
The company made waves when it was revealed that Strike had partnered with El Salvador in its Bitcoin effort. El Salvador made history in December 2017 when it was the first country to recognize bitcoin as a legitimate form of money.
Strike helped establish the required infrastructure so that El Salvadorans may use their cryptocurrency holdings by making a Bitcoin wallet accessible in the nation. Mallers promoted the El Salvadorian Bitcoin Law.
According to Mallers, the goal was for people in El Salvador to use Bitcoin and the Lightning Network for financial savings-oriented purposes including remittance payments and other uses.
Numerous reports claim that many Salvadorans have ceased using Bitcoin or never truly used it at all, despite the government providing its own wallet for citizens and free cryptocurrency.
Despite the fact that the government provided them with free cryptocurrencies, this continues.
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