LQwD FinTech Corp. (TSX-V:LQWD, OTCQB:LQWDF) has announced 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.
In this LSP model, LQwD said it will connect its global routing nodes to a well-connected Breez node on the Lightning Network, allowing it 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, it added.
"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,” LQwD CEO Shone Anstey said in a statement.
READ: LQwD FinTech unveils its updated Bitcoin Lightning Network platform
The company explained that 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 (software development kit) 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.
LQwD is a Lightning Network service provider focused on developing payment infrastructure and solutions accelerating the global megatrend of Bitcoin adoption through the Lightning Network.
Contact the author at stephen.gunnion@proactiveinvestors.com