Bitso Chooses Lightspark to Enable Bitcoin Transactions via Lightning

Bitso—the leading crypto-powered financial services company in Latin America—announced that it has chosen Lightspark to bring the Bitcoin Lightning Network to its 8 million users and 1,700 institutional clients. Bitso has long led crypto innovation in Latin America and was the first company to demonstrate that cryptocurrencies can be used for real use cases, such as cross-border payments and remittances.

According to the latest report “Crypto Panorama in Latin America”, 53% of wallets in the region have bitcoin. In addition, books with local currencies (FIAT) of Mexico (BTC-MXN) and Brazil (BTC-BRL) are the most active in all of Latin America. This integration strengthens Bitso’s existing flow by allowing its users to receive payments in BTC more easily and economically, exchange BTC for other FIAT currencies and withdraw their money.

“We are excited to partner with Lightspark to bring Lightning to our platform. This collaboration furthers our mission to make cryptocurrencies useful by offering faster, more cost-effective and transparent money transfers for both individuals and businesses. We are excited to continue redefining the money and the financial system of Latin America through magical experiences!” , highlighted Daniel Vogel, co-founder and CEO of Bitso.

Derived from this agreement, the engineering teams will begin the integration process to implement the solution for the Bitso community, which will be announced soon.

“Bitso shares our vision of creating open payments for the Internet. This alliance brings us closer to that goal. We know that people throughout Latin America want this type of solution for money transactions and we are excited to make it a reality for our eight million customers “Working alongside the innovative Bitso team has been an honor as they continue to prove that cryptocurrencies can solve real-world payment challenges,” David Marcus, co-founder and CEO of Lightspark.

The addition of the Lightning Network has been a request from the company’s customer community for some time. Making it a reality required the support of a partner with the experience and strength that Lightspark brings with its enterprise solution, allowing innovative companies like Bitso to reliably connect to the Lightning Network.

The integration with Lightspark Connect will also leverage Bitso’s 10 years of experience in making crypto useful, providing intuitive, easy-to-use products that solve specific problems and meet the highest security standards.