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Bitcoin Payments Firm Strike’s Headquarters to Stay in U.S., Despite New El Salvador Office
The company established a headquarters in El Salvador for its global entity as it expanded its app to more than 65 countries last week.
Updated May 24, 2023, 7:55 p.m. Published May 24, 2023, 4:29 p.m.
Digital payments firm Strike has established a new headquarters in El Salvador for its international entity that could serve as a beachhead as it expands to more than 65 countries.
But Strike says its primary headquarters is still in Chicago, despite regulatory uncertainty that has caused other crypto companies like Bittrex to exit the U.S. market.
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Strike has a U.S. entity that oversees operations in the domestic market, as well as the El Salvador-based entity to oversee global operations.
Strike CEO Jack Mallers announced the El Salvador headquarters during his keynote speech at the Bitcoin 2023 conference in Miami Beach, Florida, last week.
During his speech at the conference, Mallers juxtaposed the Bitcoin-friendly environment in El Salvador with what he described as a climate of regulatory uncertainty in the U.S.
“We're living in a country right now where the SEC is fighting with Brian Armstrong,” Mallers said – likely referencing the Wells notice Coinbase received in March from the Securities and Exchange Commission (SEC). “And we're going global, headquartered out of El Salvador. It's really f*cking awesome, it's really a beautiful thing.”
Armstrong, CEO of cryptocurrency exchange Coinbase, recently stated that his firm would consider moving out of the U.S. if the regulatory uncertainty persists. It’s unclear if Strike would do the same.
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