Digital Bank Revolut works together with Lightspark to roll out Bitcoin (BTC) transactions on Lightning Network to customers in the VK and selected countries in the European Economic Area (EEA).
The function is intended to lower transaction costs and payment processing time for crypto users, Lightspark said in a blog post. When asked in an e -mail, the company did not indicate the timeline for when the function goes live.
Lightspark, led by former PayPal director David Marcus, offers Backend infrastructure for connecting with what the “cash roster” calls a decentralized network for real-time worldwide payments.
The Lightning Network is a Layer-2 system that is built on top of the Bitcoin blockchain that almost captivates almost instructive transactions. By connecting to the network via Lightspark, revolut users can bypass the congestion and high costs of the basic blockchain to send BTC faster and more efficiently,
“Integration with Lightspark is a natural step,” said Revolut’s Crypto -all director Emil Urmanshin in the post. “We always want to make financial services faster and more affordable – and their approach to global transactions enables us to do exactly that.”
The integration places the London-based Revolut under the growing number of fintech companies that lean on faster, crypto-native payment systems. Bitcoin-oriented payment company Strike processed $ 6 billion in volumes last year, said CEO Jack Mallers in an investor letter that was shared in an X post last month.
Read more: Visa doubles on stablecoins with investments in blockchain -payment company BVNK
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Credit : cryptonews.net
