Revolut Embraces Bitcoin’s Lightning Network for Faster Crypto Payments
Revolut has teamed up with Lightspark to bring bitcoin’s Lightning Network to its payment system. This integration is now available for users in the UK and some European economic Area countries.
With this move, Revolut users can send Bitcoin (BTC) faster and at lower costs. The Lightning Network, a layer 2 protocol, enables quick and scalable transactions. It’s like an “open Money Grid,” as Lightspark describes it.
Emil Urmanshin, Revolut’s GM of Crypto, explained that this step aligns with the company’s mission to provide faster and cheaper financial services.
Revolut also launched Revolut X, a mobile crypto exchange app. It lets users in the UK and European Economic Area trade over 400 crypto pairs and 220 tokens. This follows the desktop version and supports Revolut’s European growth plans.
Lightspark CEO David Marcus sees this partnership as a sign of the future. He compared traditional banking to “dial-up” in a “5G” world, highlighting Revolut’s modern approach.
Lightspark’s system supports Global Money Address, linking email-like identifiers to wallet addresses. this makes crypto payments simpler.
Revolut joins other fintechs using Lightning Network. This shift aims for real-time, borderless transactions without the usual blockchain costs and delays.
