Scaling The Lightning Ecosystem
We’re thrilled to share that more customers are rolling out new payment solutions that demonstrate the scale and breadth of the Lightspark platform for all types of businesses. We’ve already announced Lightspark Connect, Lightspark Predict, our SDKs and API, and now with the arrival of the Lightspark Wallet SDK we’re enabling businesses to do even more on Lightning.
For wallet providers, the ability to expand access and enable customers to send bitcoin faster over Lightning at almost zero cost, even when the Bitcoin network experiences high demand, is a differentiator.
In March 2023 Xapo Bank used Lightspark to integrate with the Lightning Network, becoming the first bank in the world to allow members to pay for small purchases with bitcoin without having to convert to USD first. Xapo customers have been using the network since integration with daily transactions remaining constant - during the recent period of high bitcoin fees, Xapo experienced a spike in Lightning transactions amongst its members which highlights that the Lightning network is a great alternative to the traditional Layer 1 bitcoin network.
Rain the largest crypto-asset platform in the MENA region, with customers in 10 plus countries, is announcing that they will enable their users to execute real-time bitcoin transactions using Lightspark, with reduced fees providing a fast, low-cost, and reliable way to send and receive payments globally.
Other wallets are onboarding now and we’ll share more soon.
Merchants also need to be able to accept low-cost, real-time Lightning payments from anywhere in the world. From point of sale to digital content, the Lightspark stack allows merchants to experience open payments at the speed of light.
Flexa makes it incredibly easy for any business to integrate digital commerce (payments, offers and billing) as well as web3 loyalty capabilities with their existing hardware and software. They offer support for payments in 100+ different digital currencies from 300+ different wallet apps and at more than 41,000 retail touch points. The integration with Lightspark will continue to help businesses navigate to the next era of commerce.
Risk Management and Compliance Tools:
For Lightning to scale, regulated enterprise customers need to be able to meet their regulatory, risk management and compliance requirements. Lightspark has partnered with leading players in the industry to provide customers with the tools designed to meet their compliance obligations.
Chainalysis data powers investigation, compliance, and market intelligence software for the digital asset sector to build a world with more financial freedom and less risk. Their work in partnership with Lightspark will ensure that the revolution of payments is done in a way that protects consumers and businesses alike.
TRM Labs has a mission to support blockchain-based innovation. Through this integration with Lightspark, TRM Labs is adding risk and compliance solutions to identify illicit crypto activity. Users of Lightspark will be able to screen addresses connecting to the Lightning Network and use TRM Wallet Screening to detect sanctions and anti-money-laundering risks.
Notabene’s pre-transaction decision-making platform helps crypto institutions comply with the Travel Rule and manage counterparty risk across varied business scenarios. With the Lightspark and Notabene partnership institutions can now transact safely with their top counterparties globally. Notabene operates an open network of 1000+ VASPs and supports wallet-ownership proofs for 200+ self-hosted wallets.
Our goal at Lightspark is to make the Lightning Network more accessible and to take Lightning payments mainstream. These customers are the very start of this and we can’t wait to share more in the coming weeks and months.