Revolut Partners with Lightspark to Integrate Bitcoin’s Lightning Network for Faster, Cheaper Payments
1min read Revolut has announced a strategic partnership with Lightspark to integrate Bitcoin’s Lightning Network into its payments infrastructure for users in the UK and select European Economic Area countries. This integration allows revolut users to send cryptocurrency instantly and with lower fees, significantly enhancing the speed and cost-efficiency of digital payments.
The move is part of Revolut’s broader initiative to offer faster and more affordable financial services. By leveraging the Lightning Network, Revolut aims to reduce network costs and transaction times, tapping into what Lightspark describes as the “open Money Grid.” This grid facilitates seamless and efficient financial transactions, aligning with the growing trend of real-time, borderless payments.
Revolut’s General Manager of Crypto, Emil Urmanshin, emphasized that this integration is a key step in the company’s mission to revolutionize financial services. The fintech company recently launched its mobile crypto exchange app, Revolut X, which enables trading of over 400 crypto pairs and 220 tokens. This mobile rollout follows the earlier desktop launch and expands the platform’s reach, further solidifying Revolut’s commitment to European growth.
Ask Aime: What will be the impact of Revolut's Bitcoin Lightning Network integration on user experience in digital payments?
The Lightning Network, a Layer 2 protocol for Bitcoin, is renowned for its ability to support scalable, real-time transactions. This technology is increasingly being adopted by fintech platforms seeking to enhance their crypto payment capabilities. Lightspark CEO David Marcus highlighted the significance of this partnership, stating that Revolut is at the forefront of modern finance, comparing traditional bank systems to “dial-up” in a “5G” world.
Lightspark’s infrastructure also supports Universal Money Address, which links email-like identifiers to wallet addresses, further simplifying crypto payments. This feature, combined with the Lightning Network’s efficiency, positions Revolut as a leader in the fintech industry, offering users a more streamlined and cost-effective payment experience.
Revolut’s integration with the Lightning Network underscores an ongoing shift toward real-time, borderless financial transactions. This move away from the slow settlement times and high costs typically associated with blockchain payments is a testament to the evolving landscape of digital finance. As more fintech platforms adopt similar technologies, the future of money is poised to become more efficient, accessible, and user-friendly.
