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Revolut partners with Lightspark for Bitcoin network integration
By: thepaypers|2025/05/08 20:15:02
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This partnership aims to reduce waiting times and high network fees, offering simple transactions powered by open technology. Revolut is connecting to the Money Grid and joins other fintechs and wallets that offer new payment solutions, such as Lightning transactions or Universal Money Address (UMA). Revolut will remain dedicated to accelerating the development of the modern world of cryptocurrencies, as well as providing clients with secure and improved products. UMA utilises the Lightning network to enable users to send and receive money 24/7 in the currency they choose. UMA is open source, which means any wallet, exchange, or bank can integrate the standard and build new payment experiences. Improving the payment experience Lightspark is known for its enterprise-grade entry point to the Lightning Network, offering software and services designed to facilitate near real-time, low-cost Bitcoin and fiat transactions. Its SDKs, APIs, and developer tools aim to simplify user experiences and optimise transaction efficiency. Lightning transfers are payments taking place on the Lightning Network, a layer-2 protocol built on the Bitcoin blockchain. These kinds of payments allow near-instant and low-cost transfers of Bitcoin between parties, offering an alternative to traditional on-chain transfers. They also offer scalability through off-chain payment channels, global accessibility, and more privacy, as only the final state of the payment channel is recorded when it closes. By leveraging Lightspark, Revolut aims to make Bitcoin more usable in everyday life, focusing on offering faster and more affordable financial solutions, enabling more convenient global transactions. Lightspark believes that the future of money is real-time, low-cost, and borderless, which aligns with its operations and offerings. Traditional banks rely on slow or expensive payment systems, and the company wants to contribute to the widespread adoption of Money Grid, which enables instant, simple transactions.
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