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About Strike
Strike is a Bitcoin-first financial app that lets users buy, sell, and send bitcoin, pay bills, and receive payroll directly in BTC. Its core advantage is leveraging the Lightning Network for near-instant, near-zero-cost transactions, positioning itself as a bridge between traditional finance and Bitcoin.
The main pain point it addresses is the inefficiency and high fees of legacy banking and cross-border transfers. Strike allows users to convert local currency to bitcoin instantly and send it globally at minimal cost, with recipients able to receive local currency without needing a bank account. It also offers bitcoin-backed loans, enabling users to access cash without selling their holdings.
In the past six months (Feb-Aug 2026), Strike obtained a New York BitLicense in March, allowing it to operate in all US states. In May, it launched a standard bitcoin-backed loan product. In July, it introduced a "volatility-proof" loan variant that eliminates price-triggered liquidation, with a 45% loan-to-value cap and 6-month terms. However, this product excludes California, New York, and Texas, and still carries liquidation risk if borrowers miss payments beyond a 10-day grace period. The launch occurred during a bear market with bitcoin below $62,000.
Strike, founded by Jack Mallers, evolved from the Zap wallet into a global Bitcoin payment platform. Key milestones include:
In September 2019, Mallers announced Olympus, initially a Lightning-enabled fiat ramp allowing users to buy Bitcoin within Zap. Through testing and iteration, Olympus transformed into Strike, a standalone app enabling Bitcoin payments via bank cards or accounts without managing nodes or liquidity.
Strike expanded internationally, launching in Europe in 2024 with features like SEPA deposits, free Lightning withdrawals, and global P2P transfers, reaching nearly 100 countries.
A significant long-term development was the introduction of Bitcoin-backed loans for U.S. customers, allowing users to borrow fiat against their Bitcoin holdings without selling, with loans ranging from $75,000 to $2 million. This, alongside Mallers' leadership of Twenty One (a Bitcoin treasury company), underscores Strike's strategy to integrate Bitcoin into mainstream finance.
Jack Mallers (Founder)
Jack Mallers is the founder of Strike, a Bitcoin payments company. He is a prominent advocate for Bitcoin and the Lightning Network. Mallers played a key role in El Salvador's adoption of Bitcoin as legal tender in 2021. He previously founded Zap Solutions, a non-custodial Lightning wallet, before launching Strike in 2020. His background includes a brief stint at St. John's University and a coding bootcamp in Chicago.