LQwD FinTech Corp announced the strategic deployment of additional European routing nodes for the Bitcoin Lightning Network (LN).
The company said its European routing nodes now include Italy, Ireland, Sweden, France, England, and Germany -- with Europe now containing about 43% of all LN nodes, second only to North America.
“LQwD's launch of these additional nodes firmly positions us to increase our overall value on the network,” LQwD FinTech CEO Shone Anstey said in a statement.
READ: LQwD FinTech launches Indonesian Lightning Network routing node
“Being a leading Lightning Network infrastructure and transaction facilitator has a lot of value: First, Lightning Network's early-movers (like us) are best positioned to strategically expand our position on the network. Second, the more nodes LQwD establishes worldwide, the more transactions can be routed through our node network,” Anstey added.
LQwD noted that each transaction represents a routing fee.
The company added that together with its recently-announced nodes launched in Singapore and Indonesia, it has established an LN presence in key countries where the network is experiencing rapid growth.
LQwD revealed that since launching its first Lightning Network node in late November 2021, 157 nodes have now interconnected with more than 158 transaction channels, routing over 10 Bitcoin through LQwD's connected channels.
As well, the company reported that it has changed auditors from De Visser Gray LLP to Kingston Ross Pasnak LLP, effective March 10, 2022.
LQwD is a Lightning Network Service Provider (LSP) focused on developing payment infrastructure and solutions accelerating the global megatrend of Bitcoin adoption through the Lightning Network.
The company's mission is to develop institutional-grade services that support the Lightning Network and drive improved functionality, transaction capability, user adoption and utility and scaling Bitcoin. LQwD also holds and acquires Bitcoin as an operating asset, establishing nodes and payment channels on the Lightning Network.
Contact Sean at sean@proactiveinvestors.com