Strike Relocates Headquarters to El Salvador and Expands to 65 Countries
Bitcoin payments company Strike has announced a major global expansion and a bold relocation of its headquarters to El Salvador — the first country to adopt Bitcoin as legal tender.
The announcement came on May 19, during the Bitcoin 2023 conference in Miami, where CEO Jack Mallers unveiled plans to extend Strike’s services to a total of 65 global markets.
A Simpler Global Bitcoin App
In an interview with Fortune, Mallers highlighted the appeal of the Strike app as a user-friendly, Bitcoin-first payments solution.
“We think there are billions of people that want a money app with those characteristics and capabilities,” he said, contrasting Strike’s approach with traditional crypto exchanges offering “a thousand different coins” and “unregistered licensing regimes.”
Strike operates on the Bitcoin Lightning Network — a layer-2 protocol enabling faster and cheaper Bitcoin transactions across borders.
Seeking 3 Billion Users
According to Mallers, Strike’s decision to relocate stems from increasing regulatory uncertainty in the United States. “Two years ago, people would have made fun of me for launching a product for three billion people from El Salvador,” he remarked. “But now Coinbase is fighting with Gary Gensler. Who’s laughing now?”
With operations already in the U.S., Argentina, and El Salvador, the expansion will open Strike’s Bitcoin-based payment infrastructure to a global audience spanning more than 3 billion people.
Mallers said the move validates Strike’s “Bitcoin-first” philosophy at a time when many crypto companies are struggling with U.S. regulations.
Building Global Banking and Payment Access
Strike aims to strengthen partnerships with banks worldwide to enable fiat on- and off-ramps for Bitcoin users and plans to launch a debit card.
Dollar balances in Strike’s app are currently backed by Tether (USDT) instead of Circle’s USDC — a choice Mallers said reflects South American users’ perception of Circle as catering to “American institutions.”
Crypto Firms Leave the U.S. Amid Regulatory Pressure
Strike’s move to El Salvador follows a growing exodus of crypto firms from the U.S. Coinbase, Gemini, Galaxy Digital, and Ripple have all explored expanding operations abroad due to unclear regulatory guidance.
Meanwhile, Bittrex shut down its U.S. services in early May and filed for bankruptcy, while major market makers Jane Street Group and Jump Crypto paused their U.S. trading plans for similar reasons.
El Salvador Welcomes Crypto Innovation
Strike and Bitfinex were among the first companies to receive operational licenses under El Salvador’s pro-crypto legislation. The country’s leadership, led by President Nayib Bukele, continues to push Bitcoin-based innovation as part of its national growth strategy.
For Mallers and Strike, the move represents more than just a relocation — it’s a symbolic pivot toward jurisdictions embracing Bitcoin’s future rather than fighting it.
