Vancouver, BC, Feb. 7, 2022
/CNW/ - LQwD FinTech Corp. (TSXV: LQWD) (OTC: LQWDF), an emerging
technology company developing payment infrastructure for the
Bitcoin Lightning Network (LN), announces deployment of routing
nodes in Germany and Singapore.
Establishing these nodes into these important financial hubs
provides a gateway into the European and Asian payments processing
frontier.
The German and Singaporean routing nodes, secured by the
Company-owned Bitcoin, represent the first of numerous
international nodes that the Company plans to deploy in coming
months.
Deploying nodes enables LQwD to collect transaction, routing and
processing fees, as well as secure a strong foothold on the LN
network, positioning the Company to participate in the significant
global adoption now gathering momentum on the network.
Since the launch of the LQwD's first routing node, US-West, in
November 2021, the node has
experienced week-over-week growth with over 80 nodes now connected,
establishing 84 new payment channels, and the Company has collected
transaction fees from the 5 Bitcoin that has been routed through
these channels. To follow LQwD's node and channel growth visit
http://www.1ml.com.
LQwD is confident that establishing international routing nodes
into key countries such as Germany
and Singapore show capability and
proof of concept, paving the way for LQwD to become a prominent
Lightning Network liquidity and global payment processer.
About the Lightning Network
The Lightning Network is layer-two technology that solves
the issue of mass scaling Bitcoin for global microtransactions. In
addition to enabling millions of transactions per second, the
Lightning Network dramatically reduces the fees curently charged,
and serves up instantaneous settlement times.
The Lightning Network continues to experience explosive growth
as follows:
- Since April 2021, Node growth has
increased 227%, from 10,394 to over 34,000 nodes now
established.
- Bitcoin capacity increased from 1,060 BTC to 3,398 BTC, up 220%
from January 2021 to the
present.
- Payment channels are up 126%, rising from 38,000 to more than
86,000 established since January
2021.
Some well-known companies such as Lightning Labs, Twitter, and
Jack Dorsey's Block (Cash App), have
openly expressed their enthusiasm to incorporate the Lightning
Network into their platforms.
About LQwD
LQwD is a Lightning Network Service Provider (LSP) focused on
developing payment infrastructure and solutions accelerating the
global mega trend of Bitcoin adoption through the Lightning
Network. 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 on the
Lightning Network.
Website: www.lqwdfintech.com
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.