Nubank Partners with Lightspark to Bring Bitcoin Lightning Network to Latin America
Brazilian fintech Nubank has teamed up with payment platform Lightspark to introduce the Bitcoin Lightning Network to its vast customer base of 100 million across Latin America.
Lightspark announced the partnership on June 25, outlining plans for initial Lightning integration and future product developments with Nubank. They also aim to implement the Universal Money Address standard, simplifying money transfers using Lightning’s email-like addresses.
Thomaz Fortes, executive director of Nubank Cripto, emphasized that this integration aligns with their strategy to enhance blockchain-based transfers with greater speed and lower costs.
Founded in 2022 by former PayPal president David Marcus, Lightspark focuses on building enterprise-grade infrastructure for the Lightning Network. The collaboration with Nubank marks a significant milestone for expanding Lightning’s utility during a critical growth phase.
READ MORE: Japanese Institutional Investors Eye Crypto Amid Diversification Drive
Nubank, supported by Warren Buffett’s Berkshire Hathaway, introduced cryptocurrency services in May 2022 and partnered with Circle to broaden access to USD Coin (USDC) in November 2023.
The neobank, with 92 million customers in Brazil and eight million in Mexico and Colombia, sees substantial cryptocurrency trading in Brazilian real pairs, followed by Mexican, Argentine, and Colombian pesos, according to Kaiko Research.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
