Strike, a Bitcoin-focused payments app, is expanding into seven African countries where volatile currencies are boosting crypto demand.

Strike will now offer its services in Gabon, Ivory Coast, Malawi, Nigeria, South Africa, Uganda and Zambia, founder and CEO Jack Mallers said in a blog post Tuesday. More countries in Africa are expected to follow.

The Chicago-based startup's app lets users transfer, receive and hold Bitcoin and stablecoins like Tether. The expansion comes after Strike enabled instant U.S. dollar payments to Nigeria, Kenya and Ghana in 2021 using Bitcoin's Lightning network.

The launch taps growing interest in crypto in Africa as a hedge against inflation and weak local currencies. Nigeria, the continent's biggest market, has seen its naira currency plummet nearly over 60% this year. Chainalysis in its last report highlighted a correlation between Nigerians’ store of Bitcoin and stablecoins with a decline in the naira.

"Many countries on the continent are grappling with high inflation rates and devaluing currencies, making it challenging for people to save and build wealth," Strike said in a blog post seen by NODO.

By leveraging Bitcoin's Lightning network, a technology that optimises transactions on the Bitcoin blockchain, Strike offers faster and cheaper cross-border transfers than traditional remittance services like Western Union. Remittances are a lifeline for many people in developing countries. The UN reports that remittance flows to Africa has doubled in the last decade, reaching $100 billion in 2022

The move comes on the heels of Strike raising $80 million from investors in September 2022. The Series B round included venture firm Ten31, which focuses on Bitcoin companies, as well as Washington University in St. Louis and the University of Wyoming.

Strike has pushed into Latin America, Asia and the Caribbean. It also operates in El Salvador, which adopted Bitcoin as legal tender last year. Strike's app provides infrastructure for Bitcoin payments in the Central American nation.