- Coinbase selects Lightspark to integrate the Bitcoin Lightning Network, offering customers instant, cost-effective transactions.
- Lightspark’s software and services allow institutions to tap into the Lightning network for near real-time, low-cost Bitcoin transactions, with tools for seamless integration and liquidity optimization.
- Coinbase will use Lightspark’s remote-key signing implementation, with Lightspark hosting the Lightning node while Coinbase holds the signing keys.
Coinbase, a leading cryptocurrency exchange, has partnered with Lightspark to integrate support for the Bitcoin Lightning Network. This collaboration will enable Coinbase customers to benefit from instant and cost-effective Bitcoin transactions.
About the Partnership
Lightspark’s software and services will allow Coinbase to reliably connect to the Lightning Network. The integration will leverage Lightspark’s APIs, SDKs and developer tools to enable a streamlined process.
Coinbase will utilize Lightspark’s remote signing implementation. This allows Coinbase to retain control of the private keys while Lightspark hosts the Lightning node infrastructure.
Benefits for Coinbase Customers
The Lightning Network integration will provide Coinbase users with faster and cheaper Bitcoin transfers. By moving transactions off-chain, customers can avoid the high fees and slow settlement times associated with on-chain Bitcoin transactions.
Lightspark’s AI-based routing engine, Lightspark Predict, will optimize transactions in real time. This maximizes success rates and minimizes settlement times across the Lightning Network.
The Significance of This Collaboration
This integration comes at an opportune time as Bitcoin fees and prices surge. Enabling instant, low-cost Bitcoin transactions will make crypto more accessible.
The partnership represents a milestone for Lightning Network adoption. Adding a major player like Coinbase will drive significant usage and liquidity.
Coinbase and Lightspark plan to build on this initial integration. Future collaborations may unlock additional functionality and use cases for customers.
Statements from Both Companies
Shan Aggarwal, VP of Corporate Development at Coinbase, said: “We’re excited to partner with Lightspark to eliminate payment barriers and enable faster and cheaper Bitcoin transactions through support for the Bitcoin Lightning Network.”
Lightspark mentioned: “We’re excited to bring Lightning to Coinbase and look forward to sharing more about our continued partnership.”
