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Users, both retail and corporate, of the Brazilian neobank Nubank will have the capability to conduct payments using BTC due to the integration of the Lightning Network.
Lightspark has revealed a partnership with Nubank, one of the largest digital banks globally, operating across Latin America. This collaboration aims to grant the bank’s customers access to the Lightning Network.
In particular, Lightspark will incorporate the Universal Money Address (UMA) standard into the bank’s payment system. This protocol enables users to send and receive BTC using addresses that resemble email addresses.
Nubank’s corporate clients will gain access to Lightspark’s SDK and API, which are developer tools designed to facilitate the integration of Bitcoin-based payment solutions into a variety of products and services. As stated in the press release, Lightspark provides an optimal enterprise-grade entry point into the Lightning Network, ensuring efficient, low-cost, and nearly instantaneous transaction processing for both BTC and fiat currencies.
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According to the press release, Nubank is recognized as the largest digital banking platform outside of Asia, boasting over 100 million customers in Brazil, Mexico, and Colombia. Open sources indicate that by the end of 2021, Nubank’s services were utilized by 47 million retail clients and 1.1 million businesses.
Lightspark focuses on creating infrastructure based on the Lightning Network for corporate applications. The company offers tools for the automated deployment and management of validator nodes, transaction routing, liquidity management, and BTC payment integration. Founded in 2022 by David Marcus, former President of PayPal, Board Member of Coinbase, and Head of Facebook’s Novi crypto initiative, Lightspark is positioned in this space.
Thomaz Fortes, Executive Director of Nubank Crypto, stated in the press release that the integration of the Lightning Network aligns with the neobank’s strategy to offer clients quicker and more economical transfers enabled by blockchain technology. David Marcus, CEO of Lightspark and Board Member of Nubank, conveyed that this partnership will greatly enhance the utilization of the Lightning Network, which is essential for the project’s ongoing advancement.
It is important to highlight that the usage of the Lightning Network surged by over 1,200% from 2021 to 2023. By August 2023, the number of transactions on the network surpassed 6.6 million. For further details on what L2 Lightning Network encompasses, refer to the special material by CP Media.
Сообщение Lightning Network to Be Accessed by Over 100 Million Users in Latin America появились сначала на CoinsPaid Media.
