Digital bank Revolut is collaborating with Lightspark to introduce Bitcoin (BTC) transactions on the Lightning Network for customers in the U.K. and select nations across the European Economic Area (EEA).
This innovative feature aims to significantly reduce transaction fees and processing times for crypto users, as highlighted in a blog post by Lightspark. While the company has not confirmed the timing for the launch of this feature, the anticipation continues to build within the crypto community.
Lightspark, founded by former PayPal executive David Marcus, provides the backend infrastructure necessary to connect to what it refers to as the “Money Grid” — a decentralized network designed for real-time global payments.
The Lightning Network itself represents a layer-2 solution built atop the Bitcoin blockchain, facilitating near-instant transactions with minimal fees. By accessing the network through Lightspark, Revolut users will be able to bypass the congestion and high transaction costs associated with the base blockchain, enabling them to send BTC more swiftly and efficiently.
Emil Urmanshin, Revolut’s crypto general manager, noted in their announcement, “Integrating with Lightspark is a natural step. We’re always looking to make financial services faster and more affordable — and their approach to global transactions enables us to do exactly that.” This integration strategically positions London-based Revolut among a growing cadre of fintech firms that are embracing faster, crypto-native payment systems.
In fact, Bitcoin-focused payments firm Strike reported processing $6 billion in transaction volumes last year, as detailed by CEO Jack Mallers in an investor letter shared in a recent X post.
Read more: Visa Doubles Down on Stablecoins With Investment in Blockchain Payments Firm BVNK
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