Bitso Expands Lightning Network Access to 8 Million Users

Bitso, a leading cryptocurrency exchange in Latin America, has announced that it now supports the Bitcoin Lightning Network for all of its users, a milestone that enhances its platform’s transaction capabilities. The update, which was shared by the Lightspark team on November 12, allows Bitso's more than 8 million retail customers across Latin America to make faster and cheaper Bitcoin transactions.
This move follows Bitso's partnership with Lightspark, a company founded by former Facebook payments lead David Marcus. Through the collaboration, Bitso has integrated Lightspark’s Lightning Network infrastructure, which enables near-instant Bitcoin payments on its platform. Users in countries like Argentina, Brazil, Colombia, and Mexico can now enjoy the benefits of the Lightning Network, which offers low-fee, high-speed Bitcoin transactions.
The launch comes at a time when Bitcoin’s price has surged, reaching approximately $89,894 per coin, a 28% increase in just one week. As Bitcoin adoption continues to grow, this update makes Bitso more competitive in the rapidly evolving crypto market.
Founded in 2014, Bitso started as the first cryptocurrency exchange in Mexico and has since expanded its presence across Latin America. The platform surpassed one million customers in 2020, and in 2021, it became the region's first crypto "unicorn" (a startup valued at over $1 billion). In 2023, Bitso introduced its international payments service, further cementing its position as a major player in the Latin American crypto space.
Lightspark, the company behind the Lightning Network integration, was founded by David Marcus in May 2022. Marcus, a former PayPal executive who also led Facebook's Libra project, launched Lightspark with a vision to explore and expand the use of Bitcoin's Lightning Network. The company is backed by top venture capital firms, including a16z Crypto, Paradigm, Coatue, and Ribbit Capital.
With this new feature, Bitso's users are now able to leverage the speed and cost-efficiency of the Lightning Network, further driving the adoption of Bitcoin in Latin America.
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