VANCOUVER, BC, Feb. 24, 2022 /CNW/ - LQwD FinTech Corp. (TSXV:
LQWD, OTC: LQWDF), an emerging technology company developing
payment infrastructure for the Bitcoin Lightning Network (LN),
announces strategic deployment of a routing node in Jakarta, Indonesia.
"With a population of more than 260 million and over
$50 billion crypto assets reportedly
traded, Indonesia is one of the
world's most valuable, untapped, emerging markets, with all the
right dynamics for Lightning Network to excel," said LQwD CEO Shone
Anstey. "Recently, the Indonesia Commodity Futures Trading
Supervisor Agency (CoFTRA) announced acceptance to trade in over
200 cryptocurrencies, which will help pave the way for Lightning
Network to become one of Indonesia's preferred platforms for
micro-payments and other transactions."
Including LQwD's recent node launch in Singapore and Germany, 127 nodes have interconnected with
more than 130 transaction channels, routing approximately 10
Bitcoin through LQwD's connected channels since launching our first
Lightning Network node in late November
2021.
To follow LQwD's node and channel growth, visit
http://www.1ml.com.
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 currently 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.
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.
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content:https://www.prnewswire.com/news-releases/lqwd-fintech-launches-indonesian-lightning-network-routing-node-301489646.html
SOURCE LQwD FinTech Corp.