- This API is for BTC and USD payments
- It sends transfers directly to dollar bank accounts
Payment service Strike has added new APIs that make dollar and BTC payments over the Lightning network easier and faster.
“Strike APIs can now be used for Bitcoin and dollar payments through the Lightning network directly to bank accounts in the US.”
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What makes it unique?
The new option will benefit companies that settle in dollars. With the Payouts API, any user will be able to receive a payment directly to their U.S. dollar bank account.
The company says it is “cheaper, faster and better than central banks and SWIFT.”
As an example, Strike describes the experience of its partner Bitnob. They use APIs so that U.S. companies with subsidiaries in Africa can funnel revenue back to the U.S.
Through the API, a Bitnob customer transfers local currency, then it is converted into bitcoin and sent to a U.S. bank account.
Common transfers from Africa were very costly and took 10% to 40% of revenue. Because of this, for example, Emirates Airlines suspended flights to Nigeria – it was not profitable for them to repatriate revenues from the Nigerian naira into dirhams.
New global payment network from Strike solves this problem. They offer faster, cheaper and better cross-border payments for companies.