Strike Rolls Out Shopify Partnership, Facilitates Online Bitcoin Transactions

The digital payments company is also working to make bitcoin transactions possible at in-store merchants around the world

article-image

Source: Strike

share

key takeaways

  • Strike CEO Jack Mallers detailed the new partnership Thursday at the Bitcoin 2022 conference in Miami
  • Traditional payment processors haven’t innovated in more than 50 years, Mallers said

In a move to revitalize the payments processing industry, which Strike CEO Jack Mallers said Thursday has been stagnant for 55 years, the company unveiled a partnership with Shopify to facilitate bitcoin-to-cash payments over the Lightning Network. 

The setup is live now with Los Angeles-based streetwear designer Warren Lotas, with the plan being to add additional merchants in the coming months, Mallers said at the Bitcoin 2022 conference in Miami.

Railing against a “boomeristic” credit card system that started when “rich dudes” didn’t want to carry around wads of cash to buy caviar at high-end Manhattan restaurants, Mallers posited bitcoin as a solution to fees, transfer times and settlement issues that plague the traditional financial system.

Not content with targeting the online payments market, Strike — a digital payments platform based on the Lightning network — has also moved to enable in-person transactions via Lightning, connected by a user’s bitcoin wallet of choice. The company partnered with alternative payments processor Blackhawk and point-of-sale provider NCR to facilitate such transactions. 

Dressed casually with his trademark hat, Mallers, through bits of laughter and profanity, presented himself as “just this kid from Chicago” in a stark contrast from the buttoned-up CEOs of traditional finance. 

“In reality, payment networks have not innovated in over 50 years,” Mallers said. “That’s insane…that’s ridiculous.”

Mallers has also been working with political heavyweights, including the bitcoiner Sen. Cynthia Lummis, R-Wyo., to “get this done.”

The idea is to roll out in-person bitcoin payments at scores of retailers, including Chipotle, Whole Foods and Walmart. 

There’s no word yet on whether the companies have opted in to the proposal — or any reaction from old-school payment processors that rely on fees for moving money. Strike’s transactions, which are instantly settled, cut down parties from five to two: the buyer and the seller.

“Anyone can build anything, man,” Mallers said. “Anyone can build anything.”


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Content Delivery Networks (CDNs) represent low-hanging fruit in a massive market ripe for Web3-driven disruption. The global CDN market was valued at ~$28B in 2024, and is projected to surpass $140B by 2034, (18.75% CAGR) underscoring the immense demand for efficient content delivery.

article-image

The next step in Blockworks’ evolution into a data powerhouse increases customizability and autonomy over their high quality charts and data

by Westie /
article-image

Sponsored

With early interest from an initial cohort of brands including Metaplex, Story Protocol, and Pipe Network, Shelby offers decentralized, cloud-speed storage for streaming, AI, and real-time content

article-image

The $135 million raise shows that TradFi giants are serious about crypto adoption

article-image

The banking system still processes payments like it’s 1975. Crypto might have a fix.

article-image

Fiserv’s launch follows Senate passage of the GENIUS Act for stablecoin regulation.

article-image

Bitcoin is emerging as “the new standard for long-term corporate resilience,” Swan Bitcoin CIO says