Shopify to integrate bitcoin payments based on the Lightning Network

The company has entered into a partnership agreement with the Strike payment application

08.04.2022 - 12:00

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What’s new? Shopify, an online commerce company, to integrate bitcoin payments into its platform. Shopify has entered into an agreement with the Strike payment application, which is based on the Lightning Network, Forbes reports. During the Bitcoin 2022 conference, Strike CEO Jack Mallers announced partnerships with other companies, NCR and Blackhawk Network.

Forbes’s material

Integration details. According to Mallers, the innovation will exclude banks from the payment ecosystem, which will significantly reduce fees for merchants and provide privacy for customers. He also stated during the presentation that bitcoin could be used everywhere and cited McDonald’s, Walmart, Walgreens, and other major franchises as examples.

What is Strike? It is a payment application that uses the Lightning Network to enable bitcoin payments. Strike charges no transaction fees and users can use it to make small payments of $0,01 or more almost instantly. One of the company’s partners is the social network Twitter.

What is the Lightning Network? It is an add-on to the Bitcoin blockchain that helps make instant transactions with low fees.

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