1 month ago
Digital slope Revolut is moving with Lightspark to rotation retired bitcoin (BTC) transactions connected Lightning Network to customers successful the U.K. and prime countries successful the European Economic Area (EEA).
The diagnostic aims to chopped transaction fees and payments processing clip for crypto users, Lightspark said successful a blog post. When asked successful an email, the institution didn't specify the timeline for erstwhile the diagnostic volition spell live.
Lightspark, led by erstwhile PayPal enforcement David Marcus, provides backend infrastructure for connecting to what it calls the “Money Grid” — a decentralized web for real-time planetary payments.
The Lightning Network is simply a layer-2 system built connected apical of the Bitcoin blockchain that allows near-instant, low-fee transactions. By connecting to the web done Lightspark, Revolut users volition beryllium capable to circumvent the congestion and precocious fees of the basal blockchain to nonstop BTC faster and much efficiently,
"Integrating with Lightspark is simply a earthy step," Revolut’s crypto wide manager Emil Urmanshin said successful the post. "We’re ever looking to marque fiscal services faster and much affordable — and their attack to planetary transactions enables america to bash precisely that."
The integration puts London-based Revolut among the increasing fig of fintech firms leaning into faster, crypto-native outgo systems. Bitcoin-focused payments steadfast Strike processed $6 cardinal successful volumes past year, CEO Jack Mallers said successful an capitalist missive shared successful an X post past month.
Read more: Visa Doubles Down connected Stablecoins With Investment successful Blockchain Payments Firm BVNK
Disclaimer: This article, oregon parts of it, was generated with assistance from AI tools and reviewed by our editorial squad to guarantee accuracy and adherence to our standards. For much information, spot CoinDesk’s afloat AI Policy.
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