In Brief:
- Bitcoin Suisse announced its plans to enable Lightning network payments.
- The CEO hopes this will help in expanding crypto applications and mass adoption.
Bitcoin Suisse is going to be the first cryptocurrency payment processor in Switzerland to use the Lightning network payment method.
According to the press release from the platform, Bitcoin Suisse will use the Lightning Network to reduce the cost and speed of Bitcoin (BTC) transactions.
Consumers and merchants using Bitcoin Suisse will be able to conduct faster transactions at lower blockchain costs with the launch of this cutting-edge second-layer Bitcoin technology.
The CEO of Bitcoin Suisse Pay noted that Lightning transactions will be critical in scaling crypto apps and driving mass adoption.
Armin Schmid, the CEO stated that “Lightning transactions enable higher throughput per second at the price of a fraction of a cent – making them a game-changing innovation for crypto applications. Lightning transactions will thus play a vital role in scaling crypto applications and driving their transition to a mainstream application.”
The decision, according to the announcement, is a significant step forward in Bitcoin Suisse’s efforts to encourage the wider adoption of crypto technology.
The Arcane Crypto department published The State of Lightning Report in October, predicting that by 2030, there will be more than 700 million users of the Bitcoin Lightning network.
The prediction is not that surprising as the Lightning Network provides users with fast transfers as well as heavy security.
