LQwD joins Visa's Fintech Fast Track Program, aiming to accelerate growth for the next generation of commerce
LQwD Fintech Corp. (LQWD) has joined Visa's Fintech Fast Track program, enabling the company to enhance its Bitcoin payment infrastructure via the Lightning Network. This partnership allows LQwD to leverage Visa's extensive global payment network, accelerating its mission to facilitate broader Bitcoin adoption. CEO Shone Anstey highlighted the access to Visa's partner network and expertise as significant advantages. The Lightning Network itself is expanding rapidly, with node growth up 227% since April 2021, enhancing transaction capability and reducing fees.
- Partnership with Visa's Fast Track program enhances growth potential.
- Access to Visa's partner network and expertise provides a strategic advantage.
- Lightning Network's node growth increased by 227% since April 2021.
- Transaction capacity on the Lightning Network up 220% since January 2021.
- None.
VANCOUVER, BC, April 27, 2022 /PRNewswire/ - LQwD Fintech Corp. (TSXV: LQWD) (OTC: LQWDF), an emerging technology company developing payment infrastructure for the Bitcoin Lightning Network (LN), is pleased to announce that the company has joined Visa's (NYSE:V) Fintech Fast Track program.
Working with Visa, a world leader in digital payments, enables LQwD to accelerate the process of bringing Bitcoin to the masses through LQwD's subsidiaries, Coincurve.com, a virtual currency platform, and LQwD's Lightning Network PAAS, as well as our global routing nodes. By integrating with Visa, the company can leverage the reach, capabilities, and security of Visa's global payment network.
"This is an exciting announcement for us," remarked LQwD CEO, Shone Anstey. "Our direct relationship with Visa now gives LQwD the advantage of accessing their growing partner network, as well as experts in the payments space. It's a big benefit."
"By joining Visa's Fast Track program, exciting fintech companies like LQwD gain valuable access to Visa experts, technology and resources," added Terry Angelos, SVP and Global Head of Fintech, Visa. "Fast Track lets us provide new resources that rapidly growing companies need to scale with efficiency."
Learn more about Visa's Fintech Fast Track program at https://Partner.Visa.com
The Lightning Network is layer-two technology that solves the issue of mass scaling Bitcoin for global microtransactions. In addition to enabling millions of transactions per second, the Lightning Network dramatically reduces the fees curently charged to users, and serves up instantaneous settlement times.
The Lightning Network continues to experience explosive growth as follows:
- Since April 2021, node growth has increased
227% , from 10,394 to over 34,000 nodes now established. - Bitcoin capacity increased from 1,060 BTC to 3,398 BTC, up
220% from January 2021 to the present. - Payment channels are up
126% , rising from 38,000 to more than 86,000 established since January 2021.
Some well-known companies such as Lightning Labs, Twitter, and Jack Dorsey's Block (Cash App), have openly expressed their enthusiasm to incorporate the Lightning Network into their platforms.
LQwD is a Lightning Network Service Provider (LSP) focused on developing payment infrastructure and solutions accelerating the global mega trend of Bitcoin adoption through the Lightning Network. The Company's mission is to develop institutional grade services that support the Lightning Network and drive improved functionality, transaction capability, user adoption and utility and scaling Bitcoin. LQwD also holds 150 Bitcoin used as an reserve and operating asset establishing nodes and payment channels on the Lightning Network.
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company's business plans and the outlook of the Company's industry. Although the Company believes, considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE LQwD FinTech Corp.
FAQ
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