Gibraltar-based private banking institution Xapo Bankaccelerated bitcoin made a new collaboration to integrate into the payment network Lightning Network.
Lightspark, the initiative of Facebook’s former crypto developer David Markus BTC agreed with Xapo Bank for the payments.
As a result of the partnership established between Lightspark and Xapo, bank customers will be able to make low commission, fast and secure payments to vendors that support the Lightning Network, with an upper limit of $100. Thanks to this agreement, Xapo Bank made history as the first licensed bank integrated into the Lightning Network.
Xapo Bank CEO Seamus Rocca said the following after the partnership news:
“We have become a first in this field by integrating the ultra-efficient Lightning Network into our bank. Our customers will be able to easily pay small amounts via Bitcoin.”
After the payment integration announcement, Seamus Rocca gave another good news to its customers. The CEO announced that Xapo Bank will offer its customers Bitcoin deposits with an annual interest of 1%.
What is Lightning Network?
Lightning Network is a blockchain solution that aims to solve the problem of transaction speed in the Bitcoin network by using external chains for transfer transactions.
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