Lightning Labs Raises $10M Series A to Be the 'Visa' of Bitcoin - CoinDesk

in #dlikelast year


The funding round suggests some investors see the San Francisco-based startup as one of the few protocol-oriented firms with a prospective business model.

"If bitcoin is going to reach its potential as a viable global currency, it's going to need to scale beyond the base layer," Murray said. "Similar to how Visa relieves banks from handling all fiat currency traffic, Lightning relieves the base bitcoin chain from handing all transactions, thus bring more speed and fee efficiency to the network."

Stepping back, Lightning Labs released a beta version of the scaling solution LND in 2018 and previously raised $2.5 million in a seed round from investors including Twitter CEO Jack Dorsey, Square executive Jacqueline Reses, litecoin creator Charlie Lee and former PayPal COO David Sacks. Lightning Labs also launched a mobile wallet app in June 2019, and as of today the company is offering a paid service called Lightning Loop

Shared On DLIKE


Warning! This user is on our black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post!
If you believe this is an error, please chat with us in the #appeals channel in our discord.