LQwD FinTech Corp. CEO Shone Anstey said the Bitcoin Lightning Network-focused company has been quite active during the last six months as it expects further growth in 2022.
In June 2021, it completed the acquisition of LQwD Financial Corp., creating the first publicly traded Lightning Network company that has a mission to develop institution-grade payment infrastructure and solutions.
“The remarkable growth of the Lightning Network has validated LQwD's reason to be hyper-focused on Lightning and I look forward to continuing to expand our business on this rapidly growing global payment network," Anstey said in a statement.
READ: LQwD Fintech announces the appointment of Alexandra Moxin as VP of Product
The Lightning Network is a solution to mass scaling the usage of Bitcoin for microtransactions globally, dramatically improving upon fees, as well as instant settlement times.
The Lightning Network is experiencing explosive growth since January 1, 2021, with node growth doubling and Bitcoin capacity increasing 181% to September 30, 2021. Some well-known prominent companies such as Jack Dorsey's Twitter and Square have expressed their enthusiasm to incorporate Bitcoin Lightning Network into their platforms.
LQwD Fintech also provided a recap of notable corporate highlights during the last six months of 2021:
- Completed a non-brokered private placement for proceeds of C$5 million on June 9, 2021
- Completed an offering of 23 million units for proceeds of C$8,050,000 on October 28, 2021
- Cumulatively acquired over C$9 million worth of Bitcoin as an operating asset on Lightning Network, increasing LQwD's Bitcoin holdings to about 150 tokens
- Launched lqwd.tech, the company's proprietary multi-pronged, Lightning Network software platform (SaaS), allowing B2B markets, investors, and others broader access, more efficient liquidity, and seamless usage of global payments' infrastructure
- Entered into strategic services agreements with Netcoins Inc., a leading Canadian crypto trading platform and a subsidiary of BIGG Digital Assets Inc. (CSE:BIGG, OTCQX:BBKCF), and with Israeli-based Breez Development Ltd., a leading Lightning Network wallet provider
- Appointed Lightning Network experts Joost Jager and Roy Sheinfeld as strategic advisors, along with the appointment of Alexandra Moxin as vice president of product
- Participated in Adopting Bitcoin - A Lightning Summit in El Salvador from November 16-18, which brought together key groups of industry experts in the Bitcoin and Lightning Network community to discuss the future of money and payments in the Central American republic and abroad
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