Zap, a Lightning Network payments startup backed by Visa (NYSE:V) through its Fintech Fast Track program, announced on Jan. 6 the rollout of Strike Global, a payments and remittances app using the Bitcoin (BTC) layer-two technology.
An announcement by CEO Jack Mallers goes in-depth into the differences between standard fiat transfer mechanisms and the Lightning-powered mechanism in Strike Global. Mallers focused on remittances, a multi-billion dollar business that is still largely passed through expensive middlemen.