Strike Officially Launches Bitcoin-Backed Credit Line Service

Odaily News: Bitcoin payment application Strike announced on platform X the official launch of its Bitcoin-backed credit line service. This service allows users to borrow fiat currency in real-time for Lightning payments or bill payments, enabling access to cash liquidity without selling their Bitcoin. Currently, the service supports low-threshold borrowing, with a minimum loan amount of $1. Interest is calculated based on the actual amount withdrawn, and users only pay interest on the utilized portion of the credit line, with flexible repayment options available at any time. The service will initially launch in Georgia and Massachusetts, with plans to expand to more states across the United States.