Flexa has added support for the Lightning Network to pay for goods and services with bitcoins in El Salvador. Payments will be made using Strike, Eclair and Chivo wallets.
After Bitcoin was recognized as legal tender in El Salvador, there was an urgent need to support trade transactions with a fast and secure payment instrument. To fill this niche and leverage the favorable moment to market, cryptocurrency payment provider Flexa launched support for fast BTC payments based on the Lightning Network protocol.
Flexa co-founder Tyler Spalding said it was not a spontaneous decision. When it finally became clear that the regulation on payments in bitcoins was coming into force, Flexa was approached by trade organizations in El Salvador with a request to “configure for them the ability to make payment transactions in cryptocurrency, similar to how they are implemented with partners in the United States.”
“This is a really great opportunity to help merchants, and now banks, be able to process these types of digital payments,” Spaulding said.
Flexa has created a wallet and payments infrastructure in the US that gives users the ability to spend multiple cryptocurrencies for purchases at retail outlets such as Nordstrom, Barnes & Noble, Express, or Lowe’s.
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