Coinbase Enables Lightning Network Payments for Bitcoin Users
Coinbase, a prominent cryptocurrency exchange, has allied with Lightning service provider Lightspark to facilitate Lightning Network payments for its users. This strategy mirrors competitors Binance and Kraken, which already offer swift and economical Bitcoin deposits and withdrawals via Lightning.
Coinbase CEO Brian Armstrong initially announced support for the Bitcoin Lightning Network over a year ago. The integration, anticipated to conclude soon, will enable users to withdraw Bitcoin using the Lightning Network, expediting transactions and reducing costs. By mid-2025, Coinbase aspires to have approximately 15% of Bitcoin withdrawals conducted via Lightning, reflecting the growing adoption of this Layer 2 payment protocol.
Coinbase will leverage Lightspark's infrastructure for this integration, ensuring scalability and reliability while maintaining control over private keys. Lightspark, in turn, aims to simplify access to the Lightning Network for businesses by providing infrastructure and liquidity.
Coinbase's integration of the Lightning Network promises to enrich its services, offering users faster and more efficient Bitcoin transactions. The partnership with Lightspark ensures a seamless and reliable user experience. Coinbase remains dedicated to its objective of accelerating global financial systems through Bitcoin Lightning Network support.
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