“Your move, Brian Armstrong, come play basketball in my court,” says Strike’s CEO.
An emotional Jack Mallers announced the news at the Bitcoin 2021 conference in Miami.
The fifth-year player will use Zap’s Strike to take his entire base salary of $920,000 in what Culkin said was “the hardest form of currency.”
Visa partner Strike is adding support for multiple fiat currency pairs plus stablecoins as part of its journey to become a “Bitcoin neo-bank.”
Okung’s $13 million salary is being split 50-50 between bitcoin and fiat by way of Zap’s Strike product.
The Lightning startup Zap Inc. just raised its first round to build out both mobile bitcoin wallet services and a Visa partnership in 2020.
State-imposed quarantines and policies set to work-from-home are boosting bitcoin-based shopping.
Lightning-based fiat-bitcoin systems could popularize crypto payments, as long as fraud and bitcoin's non-reversibility don't get in the way.
"Merchants can accept bitcoin and lightning payments with the same infrastructure, except they never touch the asset," explained Zap founder Jack Mallers.
With new features from Zap, people can now buy bitcoin using the Lightning Network and reduce their reliance on centralized crypto exchanges.