- Lightning will enhance Bitso customers’ experience by allowing them to receive Bitcoin payments in a cheaper, faster and easy way.
- The partnership will advance Bitso’s mission of empowering the use cases of crypto and Bitcoin, such as cross-border payments and remittances.
Mexico, July 16th, 2024. Bitso —the leading financial services company powered by crypto in Latin America, announced it has chosen Lightspark to bring the Bitcoin Lightning Network to its 8 million customers and 1,700 business clients. Bitso has long been a leading innovator in crypto across Latin America and was the first to demonstrate that cryptocurrencies can be used for real payment use cases like cross-border payments and remittances.
According to the latest Crypto Landscape in Latam report, 53% of wallets in Latin America are composed of Bitcoin. Additionally, pairs with local currencies (FIAT) in Mexico (BTC-MXN) and Brazil (BTC-BRL) are the most traded in the entire region. This integration supports Bitso’s existing flow by enabling its customers to receive cheaper and faster BTC payments and then trade BTC to any FIAT pair and cash out their money.
“We’re thrilled to partner with Lightspark to bring Lightning to our platform. This advances our mission of making crypto useful by delivering faster, more cost-effective, and transparent money transfers to both our retail and business customers. We’re excited to continue redefining money and the financial system of Latin America through magical experiences!” Daniel Vogel, co-founder and CEO, Bitso.
Under this agreement, the engineering teams will begin the integration process for the launch of the solution to Bitso’s customers, which will be communicated in a timely manner.
“We’re delighted to be part of bringing one of Latin America’s most influential and innovative companies to Lightning. Bitso’s customers will benefit from instant, cheaper transfers, and this integration will pave the way for more collaboration between our companies in the months and years to come.” Quote from Lightspark.
The addition of the Lightning Network has been a request from the company’s customer community for some time. To make it a reality, it was imperative to have the support of a partner with the experience and solidity that Lightspark brings with their enterprise-grade entry point to the Lightning Network that allows innovative companies like Bitso to reliably tap into the Lightning Network.
The integration to Lightspark Connect will leverage Bitso’s 10 years of expertise in making crypto useful, providing intuitive, easy-to-use products that solve concrete problems and adhere to the highest security standards.
About Bitso
Bitso is Latin America’s leading Financial Services company powered by crypto, with a community of more than 8 million clients and 1,700 institutional clients. Bitso offers a wide range of products: from a secure and easy-to-use digital platform for earning returns, making international transfers and payments, to exchanging and storing a variety of more than 50 cryptocurrencies, as well as crypto-powered products for institutional clients, including crypto-investment and transactions, cross-border payments, among others. Founded in 2014, with over 500 employees in 35 different countries, Bitso is working to make crypto useful by unlocking the power of borderless, secure and easy-to-use financial products. Bitso remains committed to empowering the region by providing universal access to the digital economy of the future and enabling a fairer monetary system. To learn more about Bitso, visit bitso.com #makecryptouseful
Bitso is the leading cryptocurrency-driven financial services company in Latin America, serving a community of over 8 million customers and 1,700 institutional clients. For more information, please visit Bitso.
About Lightspark
The Internet doesn’t have a universal protocol for money, and that’s where Lightspark comes in. We’re building enterprise-ready infrastructure powered by the Lightning Network for open payments on the Internet. Imagine a low-cost, always-on, universal payment network revolutionizing how money moves -with Lightspark, businesses, and developers can enhance existing solutions and create innovative financial systems, services, and processes accessible to everyone, no matter where they are in the world. Lightspark is headquartered in Los Angeles, California.
Universal Money Addresses (www.uma.me) let anyone send and receive money (fiat and crypto) 24/7 using their favorite UMA-enabled wallet, exchange, or bank. UMA is global and open source.
