In response to the escalating anti-crypto sentiment in the United States, payment processor Strike is relocating its headquarters from Chicago to El Salvador.

Strike CEO: "Two years ago, people laughed at us for launching products in El Salvador, and now Coinbase is in a legal battle with Gary Gensler. Who's laughing now?"

The CEO of Strike also seemed hostile towards Coinbase in the past: Strike Founder Declares War on Coinbase: The Cheapest Bitcoin on Earth is Here

Strike Service Expands to 65 Countries

Strike's CEO Jack Mallers revealed to Fortune Magazine that in addition to the established markets in the U.S., El Salvador, and Argentina, Strike plans to expand its services to 65 countries worldwide.

He emphasized that Strike is committed to providing frictionless Bitcoin and Tether payment services to users, a stark contrast to the current landscape in the U.S. with its regulatory uncertainties, SEC lawsuits, and a myriad of tokens.

While the U.S. crypto industry faces regulatory challenges, Jack Mallers believes that Strike's Bitcoin-focused approach has shielded it from such issues:

All projects in the crypto industry have a team and a foundation, they privately issue tokens and distribute them before going live, which sounds more like securities.

Although Strike currently cannot operate in New York, Jack Mallers mentioned that they are in the process of applying for the BitLicense in New York.

Strike Moves Headquarters to El Salvador

When El Salvador announced the adoption of Bitcoin as legal tender during the bull market in 2021, Strike was the country's partnered payment processor, but they withdrew due to slow adoption.

Now, Strike is back in El Salvador. Despite criticism of the low adoption of Bitcoin in the country, issues with volcano bonds, and losses from Bitcoin investments, Jack Mallers believes that El Salvador has indeed found hope through Bitcoin, such as growth in the tourism industry.

Strike Plans to Introduce Credit Cards, Expresses Distrust in USDC

He mentioned that the next challenge is to expand collaborations with banking services to allow users to conveniently convert fiat currencies, and he pointed out:

Due to the demand from users in southern countries, Strike has chosen to adopt Tether instead of Circle's USDC as they do not trust Circle. To be honest, Circle is actually tailored for U.S. institutions.