Swiss cryptocurrency broker Bitcoin Suisse has added support for a second layer Lightning Network solution for making fast and cost-effective payments in bitcoins.
Bitcoin Suisse became the first cryptocurrency payment operator in Switzerland to use the Lightning Network, according to a press release from the company. The solution will provide instant transactions with Bitcoin, as well as low fees for Bitcoin Suisse users and the French payment company Worldline, which works with the broker.
Worldline has a customer base of over 1 million merchants and 35 million retail outlets, with a total of 5.6 billion transactions per year. Bitcoin Suisse management announced that through a partnership with Worldline and the implementation of the Lightning Network, the broker intends to become one of the largest cryptocurrency payment operators in Europe.
“The Lightning Network will provide higher throughput per second and transaction costs will be only a fraction of a cent. Lightning’s solution will play an important role in the scaling of cryptocurrency applications and their ubiquity, ”said Armin Schmid, CEO of Bitcoin Suisse Pay.
Bitcoin Suisse founder and chairman Niklas Nikolajsen also believes that second-tier solutions such as the Lightning Network are essential to the scaling of the Bitcoin blockchain. Nikolaysen expressed the hope that other financial institutions working with digital assets will also use this innovative solution for the mass adoption of cryptocurrencies.
Worldline Crypto Payments Product Manager Sascha Münger added that the implementation of the Lightning Network will make Bitcoin more accessible to a wider audience. Conducting transactions using this solution will significantly reduce energy costs, which will support adherence to the environmental principles that Worldline supports.
Recall that in September, Flexa also added support for the Lightning Network for paying for goods and services with bitcoins in El Salvador, and in August this was done by the Substack platform in partnership with OpenNode.