Strike Launches Bitcoin Collateralized Loan Service with Minimum Loan of $75,000

According to The Block, Strike, a Bitcoin Lightning Network payment app founded by Jack Mallers, has officially launched its crypto loan service, "Strike Lending." The service is available to individual and corporate users, initially only in select regions of the United States, with plans to expand globally.

Users can use Bitcoin as collateral to obtain cash without selling their holdings. The loan term is 12 months, with amounts ranging from $75,000 to $2 million. The annual interest rate is at least 12%, with no loan origination or early repayment fees, and credit scores are unaffected. Strike emphasizes that its loans are backed by scrutinized capital providers, and assets are held in custody with partner institutions during the loan period. The platform maintains legal responsibility for user assets.