Leading Latin American Crypto Exchange Name has partnered with Lightspark to integrate the Bitcoin Lightning Network into its platform. This will introduce faster, cheaper Bitcoin transactions to Bitso’s user base of over 8 million retail customers and 1,700 institutional clients.
Bitso will benefit from Lightspark infrastructure to enable Lightning transfers. Lightspark will host the nodes while Bitso retains control of the private keys in a remote signing setup.
The integration comes as Lightning Network Bitcoin is accepted worldwide, making Bitcoin payments faster, smoother and cheaper.
According to Bitso’s research, 53% of crypto wallets in Latin America Holding Bitcoin. Trading pairs against local fiat currencies are also widely used. So Lightning is a logical choice to upgrade Bitso’s existing infrastructure.
Daniel Vogel, Co-Founder and CEO of Bitso, said: “We are excited to partner with Lightspark to bring Lightning to our platform. This furthers our mission of making crypto useful by delivering faster, more cost-effective, and transparent money transfers.”
With Lightning, Bitso can offer near-instant Bitcoin transactions at a fraction of the cost of regular on-chain Bitcoin payments. This unlocks new potential payment and remittance solutions for both retail and business customers.
CEO of Lightspark David Marcus said Bitso “shares our vision of building open payments for the internet. This brings us closer to that goal. We know people across Latin America want this solution.”
Bitso is a leading Latin American exchange with millions of users. The integration of Lightning is a milestone in the growing adoption of Bitcoin.