VANCOUVER, BC, Nov. 24, 2021 /CNW/ - LQwD Fintech Corp. (TSXV:
LQWD) (OTC: LQWDF), a Bitcoin Lightning Network focused company
developing institution grade payment infrastructure and solutions,
announces that it participated in the recent Adopting Bitcoin – A
Lightning Summit in El Salvador.
The conference, which took place from November 16 to 18, brought together a renowned
group of industry experts in the Bitcoin and Lightning Network
community to discuss the future of money and payments in the
Central American republic and abroad.
LQwD also announces that it continues to increase its Bitcoin
holdings. To date, the Company has spent a total of
C$9.2 million to purchase 150
Bitcoins at an average cost of approximately C$61,000 (US$48,000) per Bitcoin.
The purchase further strengthens LQwD's strategic growth
initiative to accumulate Bitcoin as a reserve asset and as an
operating asset, which underpins the Company's proprietary
multi-pronged, Lightning Network software platform (SaaS),
lqwd.tech.
About the Lightning Network
The Lightning Network is a solution to mass scaling
the usage of Bitcoin for microtransactions globally, dramatically
improving upon fees, as well as instant settlement times. The
Lightning Network is experiencing explosive growth since
January 1, 2021, with node growth
doubling and Bitcoin capacity increasing 181% to September 30, 2021. Some well-known
prominent companies such as Jack
Dorsey's Twitter and Square have expressed their enthusiasm
to incorporate Bitcoin Lightning Network into their platforms.
About LQwD
LQwD is a Lightning Network Service Provider (LSP) focused
company developing payment infrastructure and solutions. The
Company's mission is to develop institutional grade services that
support the Lightning Network and drive improved functionality,
transaction capability, user adoption and utility and scaling
Bitcoin. LQwD also holds and acquires Bitcoin as an operating asset
establishing nodes and payment channels across the Lightning
Network.
Forward-Looking Statements
This news release contains "forward-looking information" within the
meaning of applicable securities laws relating to the Company's
business plans and the outlook of the Company's industry. Although
the Company believes, considering the experience of its officers
and directors, current conditions and expected future developments
and other factors that have been considered appropriate, that the
expectations reflected in this forward-looking information are
reasonable, undue reliance should not be placed on them because the
Company can give no assurance that they will prove to be correct.
Actual results and developments may differ materially from those
contemplated by these statements. The statements in this press
release are made as of the date of this release and the Company
assumes no responsibility to update them or revise them to reflect
new events or circumstances other than as required by applicable
securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE LQwD FinTech Corp.