Jack Mallers

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Jack Mallers is the founder and CEO of Zap, a Bitcoin investment and payments company powered by the Lightning Network. He is also the driving force behind Strike, a popular app that allows users to make and receive payments over Bitcoin’s Lightning Network without fees. Born on April 9, 1994, in Chicago, Illinois, Mallers comes from a family with deep roots in the financial industry. His grandfather was the chairman of the Chicago Board of Trade, and his father co-founded a pioneering discount futures brokerage firm in Chicago. 
== Education and Early Career ==
Mallers attended St. John’s University in New York but left after less than a year to pursue his passion for technology at the Starter School, a coding boot camp in Chicago. During this time, he developed various apps, including tools for wheelchair-accessible transportation and fitness client management.
=== Family Influence ===
Mallers comes from a family with a strong background in finance. His grandfather, William J. Mallers, Sr. was instrumental in founding the Chicago Board Options Exchange, and his father, William Mallers, Jr., co-founded the brokerage firm First American Discount Corporation. This financial legacy has played a role in shaping Mallers' career and his approach to business. His uncle, Tom Mallers, works for R.J. O'Brien, and aunt, Joanna Mallers, works for the FIA.
== Role in the Cryptocurrency Community ==
Mallers was introduced to Bitcoin by his father in 2013 and began exploring its potential more seriously in subsequent years. In 2017, he recognized the potential of the Lightning Network to facilitate fast and scalable Bitcoin transactions. This led to the creation of Zap, a non-custodial wallet designed to make Lightning Network payments user-friendly. 
== Zap and Strike ==
Zap initially targeted cannabis dispensaries that struggled with banking services due to legal restrictions. However, the company pivoted to broader applications, launching Olympus in 2019, a feature that allowed users to purchase Bitcoin with fiat currency. In 2020, Mallers introduced Strike, a rebranding of Olympus, enabling users to transact on the Lightning Network using fiat currency without needing to own Bitcoin or set up a wallet. Strike has been instrumental in making Bitcoin transactions more accessible and efficient.
== Influence in El Salvador ==
Mallers played a significant role in El Salvador's adoption of Bitcoin as legal tender. Through his work with Strike, he helped facilitate low-cost remittances, a crucial service for the country where remittances make up a significant portion of the GDP. Mallers collaborated with President Nayib Bukele, discussing how Bitcoin could enhance financial inclusion and open systems in El Salvador.
== Vision and Goals ==
Mallers envisions a future where Bitcoin is seamlessly integrated into everyday financial systems, offering innovation, accessibility, and efficiency. His work with Zap and Strike aims to lower barriers to Bitcoin adoption and promote financial inclusivity worldwide.
== Net Worth ==
As of 2024, Jack Mallers' net worth is estimated to be around $50 million, reflecting his success in the cryptocurrency industry and his early investments in Bitcoin.
== References ==	
Category:American Chief Executives
Category:Bitcoin People
Category:Businesspeople in Technology
Category:People from Chicago
Category:21st-century American Businesspeople