Simply put
- Payment Service Strike enables customers to buy, sell, and trade Bitcoin.
- The company currently offers loans to eligible customers using Bitcoin as collateral.
- Eligible customers in the US can obtain loans from $75,000 up to $2 million for a period of 12 months.
Bitcoin-Taymed App CEO announced on Tuesday that Backed Loans are now accessible to Strike’s customers in America.
Jack Mallers, the CEO of Strike, shared a video on X detailing the new service. According to their website, customers from 26 states can qualify for loans ranging between $75,000 and $100,000, depending on their location.
Mallers mentioned that the service will expand to other regions soon, including Europe.
Announcement of strike loans
You don’t need to sell the best-performing assets in history to access cash. Now you don’t have to.
Access Bitcoin wealth without having to sell. Building a better life on Bitcoin.
– Jack Mallers
“We shouldn’t have to sell the best-performing assets in human history to access cash,” Mallers stated. “Now you don’t need to do it.”
The premise is that by using Bitcoin as collateral, Strike customers can secure loans with an interest rate of at least 12% APR. Mallers also noted that individuals and businesses seeking larger loans over $2 million are eligible as well.
Strike is a digital payments company designed for sending, receiving, and trading Bitcoin.
Mallers is the CEO of Twenty One, a new Bitcoin finance company forming through a SPAC merger with backing from Tether, Bitfinex, Cantor Fitzgerald, and SoftBank.
Strike played a role in the Bitcoin project in El Salvador, assisting the country’s residents in establishing infrastructure for cryptocurrency transactions.
In 2021, El Salvador became the first nation to officially adopt Bitcoin. However, it later rolled back the policy after the International Monetary Fund requested changes related to a $1.4 billion loan deal, despite President Nayib Bukele continuing to purchase assets.
