LOS
ANGELES, July 16, 2024 /PRNewswire/ -- We're
thrilled to announce that Bitso, Latin
America's leading financial services company powered by
crypto, has chosen Lightspark to bring the
Bitcoin Lightning Network to its platform. Bitso has
long been a leading innovator in crypto across
Latin America and was the first to
demonstrate that cryptocurrencies can be used for real
use cases such as cross-border payments and remittances.
Bitso is first integrating Lightspark Connect to enable its
customer base of 8 million retail customers and 1,700 enterprise
clients to move Bitcoin over Lightning. The company
will be using Lightspark's remote-key signing implementation, with
the Lightning signing keys entirely held by Bitso while Lightspark
hosts its Lightning Node.
According to Bitso's Crypto Landscape in Latam
report, 53% of wallets in Latin
America are composed of Bitcoin. Additionally,
pairs with local currencies (FIAT) in Mexico (BTC-MXN) and Brazil (BTC-BRL) are the most used in the
entire region. This integration supports Bitso's existing flow by
enabling its customers to receive BTC payments in a near real-time
and more affordable way, trade BTC to any FIAT pair, and cash out
their money.
This integration allows Bitso to benefit from a scalable,
reliable, and fully optimized node infrastructure that provides a
deep suite of functionality through a simple and intuitive
interface. It will also pave the way for new and innovative payment
use cases. This means Bitso's product, engineering, and operations
teams can focus on creating the very best end-to-end experiences
for their customers without the distraction that comes from the
complexities of managing and optimizing a large-scale Lightning
implementation.
We're delighted to be part of bringing one of Latin America's most influential and
innovative companies to Lightning. Bitso's customers will benefit
from instant, cheaper transfers, and this integration will pave the
way for more collaboration between our companies in the months and
years to come.
"We're thrilled to partner with Lightspark to bring Lightning
to our platform. This advances our mission of making
crypto useful by delivering faster, more
cost-effective, and transparent money transfers to both our retail
and business customers. We're excited to continue redefining money
and the financial system of Latam through magical experiences!"
Daniel Vogel, co-founder and CEO,
Bitso.
"Bitso shares our vision of building open payments for the
Internet. This partnership gets us closer to that goal. We know
people across Latin America want
this kind of money movement solution, and we're excited to see this
go live with Bitso's eight million clients. Working alongside
the innovative team at Bitso has been an honor as they continue to
demonstrate that cryptocurrencies can solve real-world
payment challenges." David
Marcus, co-founder and CEO, Lightspark
Lightspark builds the best enterprise-grade entry point to the
Lightning Network. Our software and services allow innovative and
demanding companies to reliably tap into the Lightning Network to
enable near real-time, low-cost Bitcoin transactions.
We're delighted to play a role in Bitso's ability to offer open
payment solutions to their customers and can't wait to see this
come to fruition.
About Bitso
Bitso is Latin
America's leading Financial Services company powered by
crypto, with a community of more than 8 million
clients and 1,700 institutional clients. Bitso offers a wide range
of products: from a secure and easy-to-use digital platform for
earning returns, making international transfers and payments to
exchanging and storing a variety of more than 50
cryptocurrencies, as well as
crypto-powered products for institutional clients,
including crypto-investment and transactions,
cross-border payments, among others. Founded in 2014 with over 500
employees in 35 different countries, Bitso is working to make
crypto useful by unlocking the power of borderless,
secure, easy-to-use financial products. Bitso remains committed to
empowering the region by providing universal access to the digital
economy of the future and enabling a fairer monetary system. To
learn more about Bitso, visit bitso.com #makecryptouseful
About Lightspark
The Internet doesn't have a universal
protocol for money, and that's where Lightspark comes in. We're
building enterprise-ready infrastructure powered by the Lightning
Network for open payments on the Internet. Imagine a low-cost,
always-on, universal payment network revolutionizing how money
moves. With Lightspark, businesses and developers can enhance
existing solutions and create innovative financial systems,
services, and processes accessible to everyone, no matter where
they are in the world. Lightspark is headquartered in Los Angeles, California.
Universal Money Addresses (www.uma.me) let anyone send and
receive money (fiat and crypto) 24/7 using their
favorite UMA-enabled wallet, exchange, or bank. UMA is global and
open source.
CONTACT: press@lightspark.com
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