Strike Launches Cheap, Instant Remittances to Vietnam
Strike announced the launch of fast, secure, and low-cost money transfers from the U.S. to Vietnam, further expanding its cross-border payment service.
- Strike has partnered with Getbit to enable lightning-fast transfers from U.S. dollars that are received as local currency (Vietnamese Dong, VND) in a recipient's bank account in Vietnam, providing a low-cost and more efficient alternative to traditional remittance providers.
- Vietnam is among the top ten largest receiving remittance markets from the U.S. In 2021, the country received more than $18 billion in remittances.
- Strike uses Bitcoin’s Lightning Network to make digital payments faster, cheaper, and more accessible for people globally. With Send Globally, dollars are converted into bitcoin and sent via the Lightning Network to a third-party partner. That partner converts the bitcoin into local currency, and sends the local currency directly to the recipient’s bank.
- As of today, Strike legally operates in the United States, El Salvador and Argentina, and also offers the ability to send money globally to recipients in Nigeria, Ghana, Kenya, Vietnam, and the Philippines - regions where the company works with third-party service providers.