Bitso and Lightspark partnership for the Bitcoin Lightning Network
Bitso, a leading Latin American crypto exchange, has partnered with Lightspark to integrate the Bitcoin Lightning Network into its platform. This move aims to enable faster and cheaper Bitcoin transactions for Bitso's eight million retail users and 1,700 institutional clients. Lightspark will manage the nodes in the network, while Bitso will retain control of the private keys via remote signing.
The importance of integration in Latin America
The integration comes as the Lightning Network grows globally, increasing the speed and lowering costs of Bitcoin payments. According to Bitso's research, 53% of crypto wallets in Latin America contain Bitcoin, making the Lightning Network a natural extension of their infrastructure, especially for trading pairs against local fiat currencies (government currencies such as the US dollar or the euro).
CEO statements and visions
Bitso's CEO, Daniel Vogel, emphasized the importance of the partnership in advancing their mission to make crypto transactions faster, cheaper and more transparent. With the Lightning Network, Bitso can offer near-instant Bitcoin transactions at a lower cost, creating new opportunities for payment and remittance solutions.
Lightspark CEO David Marcus highlighted the shared vision with Bitso to develop open payments for the internet, serving the demand for such solutions in Latin America. This partnership marks a significant step in driving Bitcoin adoption across Bitso's extensive user base.
