LQwD Becomes First Third-Party Lighting Service Provider with Leading Lightning Network Wallet

Rhea-AI Summary

LQwD Fintech Corp. (TSXV: LQWD, OTC: LQWDF) has become the first third-party Lightning Network service provider (LSP) for Breez Developments under their new open-lightning service model. This partnership allows LQwD to enhance liquidity and capture transaction volume, thereby generating yield on their Bitcoin holdings while maintaining full sovereignty. LQwD's nodes will now earn additional fees from the Breez wallet's liquidity. Breez is a rapidly growing non-custodial Lightning Network wallet, facilitating easy Bitcoin transactions for users.

Positive

• LQwD is the first third-party Lightning Network service provider for Breez, increasing transaction volume potential.
• The partnership allows LQwD to generate yield on Bitcoin holdings while maintaining full sovereignty and custody.

Negative

• None.

VANCOUVER, BC, March 1, 2023 /PRNewswire/ - Bitcoin Lightning Network Focused LQwD Fintech Corp. (TSXV: LQWD), (OTC: LQWDF), is pleased to announce that it is the first third-party Lightning Network service provider (LSP) with a leading Lightning Network wallet, Breez Developments (Breez) in their new open-lightning service model.

"Becoming the first LSP connected with Breez and their Open-LSP Model positions LQwD to provide liquidity to a fast-growing wallet operator and potentially capture significant transaction volume, generate yield on our Bitcoin holdings, all while maintaining full sovereignty and full custody." commented Shone Anstey, LQwD's Chief Executive Officer.

In this LSP model, LQwD will be connecting its global routing nodes to a well-connected Breez node on the Lightning Network, allowing for LQwD to get additional volume and connectivity.  LQwD nodes are backed by company owned Bitcoin and will now earn additional fees from Breez's incoming and outbound liquidity.

Israeli-based Breez, is a well-established fast growing non-custodial Lightning Network wallet for users to buy, sell, and pay for goods, services, and streaming content with low-friction. Breez is building a non-custodial Lightning SDK to interface with existing, real-world apps and launching a hybrid architecture that will let users access their bitcoin on any device and in any participating app.

To learn more about the Breez and LQwD LSP partnership, please visit here.

About LQwD

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 Bitcoin that is used as an operating asset establishing nodes and payment channels on the Lightning Network.

Forward-Looking Statements 

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.

View original content:https://www.prnewswire.com/news-releases/lqwd-becomes-first-third-party-lighting-service-provider-with-leading-lightning-network-wallet-301759818.html

SOURCE LQwD FinTech Corp.

FAQ

What is LQWD's recent partnership with Breez about?

LQWD has partnered with Breez as the first third-party Lightning Network service provider, enhancing its liquidity and transaction capabilities.

When was the partnership between LQWD and Breez announced?

The partnership was announced on March 1, 2023.

What benefits does LQWD gain from the Breez partnership?

LQWD gains the ability to capture significant transaction volume, generate yield on Bitcoin holdings, and earn additional fees from Breez's liquidity.

What does the Lightning Network service model entail for LQWD?

The model connects LQWD's routing nodes to Breez's node, allowing for increased volume and connectivity in Bitcoin transactions.

What is the stock symbol for LQWD Fintech Corp.?

The stock symbol for LQWD Fintech Corp. is LQWDF on OTC and LQWD on TSXV.