: Xapo Bank Integrates Lightning Network: Make Small Payments with BTC!

• Xapo Bank announced a partnership with Lightspark to integrate the Lightning Network into its platform.
• This integration allows users to make small purchases up to $100 at any vendor that accepts Lightning Network payments.
• Xapo CEO Seamus Rocca believes this integration can help clients avoid long wait times and higher onchain fees.

Xapo Bank Partners With Lightspark

On March 2, Xapo Bank announced its partnership with Lightspark, a company led by David Marcus, former crypto boss at Facebook. The aim of the partnership is to extend the utility of bitcoin and the Lightning Network.

Lightning Network Integration Offers Benefits

Xapo is the first fully licensed private bank to offer payments through the Lightning Network. Xapo CEO Seamus Rocca believes that using the Lightning Network can help clients avoid long wait times and higher onchain fees. Additionally, Xapo is offering interest-bearing U.S. dollar bank accounts, with plans to soon offer the same for bitcoin.

Block Launches c= Venture

At the same time as Xapo’s announcement, Jack Dorsey’s payments firm Block launched a new Lightning Network service provider called “c=”. The c= venture notes on their website that they are partnering with wallets, businesses and Lightning nodes in order to streamline payment processes and allow users to pay for small purchases with bitcoin without having to convert it into USD first.

Demand For Bitcoin Payment Integrations Growing

Rocca stated that “against a backdrop of hyperinflation, economic uncertainty, and political turmoil” demand for bitcoin payment integrations is continuing to grow rapidly; he believes integrations like this open up access for bitcoin payments significantly by reducing transaction confirmation time from 1 hour down to mere seconds as well as lessening potential fees during periods of high usage making Bitcoin suitable for smaller daily payments such as groceries or other expenses.

How To Use The Lightning Network Via XAPO

To use the Lightning network via XAPO users need Bitcoin in their app which they can then scan an invoice with in order pay any merchant – transactions will be charged only a small number of satoshis for each transaction made via this method

: Xapo Bank Integrates Lightning Network: Make Small Payments with BTC!
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