Xapo Bank, an international private bank based in Gibraltar, has integrated Lightning to improve its bitcoin (BTC) capabilities.
On March 2nd, Xapo officially announced a partnership with Lightspark, a Lightning Network infrastructure platform, which enabled the company to implement Lightning on its platform.
Integration makes transactions on Xapo faster and cheaper, reducing blockchain confirmation waiting time and transaction costs on the original bitcoin network.
According to the company, members of Xapo Bank can now make small purchases of up to $100 immediately from any supplier that accepts Lightning payments. The integration will not initially support high volume trading.
This new integration was launched on February 27th as part of a new update for Xapo Bank applications on App Store and Google Play Store.
Seamus Rocca, chief executive of Xapo Bank, said it could take up to an hour to confirm bitcoin transactions during periods of high usage, making it unsuitable for daily micropayments such as groceries. By integrating Lightning Network,Xapo, he says, customers are allowed to pay in bitcoin without having to convert it into dollars.
With the large-scale activity on the Bitcoin network, the average confirmation time of Bitcoin soared in mid-February, and the size of the memory pool reached the level of November 2022. According to YCharts, the confirmation time for Bitcoin reached nearly 600 minutes on Feb. 19.
Roca also pointed out that bitcoin payments are particularly critical in times of hyperinflation, economic uncertainty and political upheaval.
Founded in 2013, Xapo runs a private bank and Bitcoin custodians and wallets regulated by Gibraltar's Financial Services Commission. The company is known for combining traditional banking with encryption, offering dollar and bitcoin accounts in one place.
At the peak of its Bitcoin escrow, Xapo claimed that it held more than 800000 bitcoins ($18.7 billion) for family offices, funds and high net worth individuals. The number of such bitcoins exceeds 4% of the total number of bitcoins in circulation.
Polkadot was launched in May 2020. In a market dominated by Bitcoin and Ethereum, it quickly established itself as the next generation blockchain. The scale and interoperability problems limit Bitcoin's ability to transfer value without the assistance of
For some newcomers to the currency circle, they are not familiar with the investment in the currency circle, and their understanding of the special currency is not very deep. Therefore, they may be at a loss in the choice of investment methods. Many inves
Lummis is a well-known crypto advocate on Capitol Hill with over $100,000 in crypto.
Several analysts argue that shrimp accumulation is good for the Bitcoin network because it makes the asset more decentralized over time.
ARK Invest filed for a spot Bitcoin ETF in collaboration with 21Shares long before BlackRock did, and its application is reportedly first in line for the SEC’s approval.
Interestingly, the price surge was on the back of increased activity from whales, as indicated by on-chain data. The increased activity led to an increased"/>
Recent market dynamics have seen Solana struggling to break above the $200 mark. A notable bearish factor among these market fundamentals is the recent"/>
DOGE, the internet's favorite memecoin, is back in the spotlight. Recent data reveals a surge in futures market activity, coupled with bullish technical"/>
The recent stratospheric rise of Bitcoin, reaching a new all-time high of $73,000, has sent ripples of excitement and trepidation through the crypto world."/>
Co-founder of Tornado Cash Roman Storm has filed a motion to dismiss the charges levied against him by the US Department of Justice (DOJ)."/>
On Thursday, March 28, a hack occurred on Prisma Finance, a decentralized lending protocol on the Ethereum network. The exploiter carted away about 3,257.7"/>
Once fully licensed in Dubai, Bybit plans to run a full-scope exchange, offering crypto lending, payments, investment and other services.
Tue, 18 Apr 2023