Online platform Substack has partnered with OpenNode to add support for BTC payments through the Lightning Network. At first, the option will only be available to cryptocurrency-related subscribers.
According to a statement Substack platform, which provides the infrastructure for publishing and maintaining newsletter subscriptions, the company is adding a BTC payments feature through the Lightning Network (LN) for crypto-related publications. In the future, more than 500,000 paying subscribers to the service can access the option if the test implementation is successful.
“Note: This option is not yet available to all publishers. We look forward to expanding access to this option based on feedback and inquiries after the test implementation. ” declares Substack.
The BTC payments feature has been added thanks to the OpenNode API integration. This made both on-net payments and payments through the Lightning Network available. LN is a second tier payment solution running on the Bitcoin blockchain. It allows you to conduct secure and near-instant transactions with little or no cost.
“Having this option will give creators more flexibility and freedom, and we hope to grow our presence in the cryptocurrency industry to meet the needs of authors,” said Nick Inzucchi, Product Designer at Substack.
João Almeida, co-founder and CTO of Bitcoin payment processor OpenNode, also commented on the initiative:
“Our partnership will enable content creators in the Substack ecosystem to accept payments in BTC and keep the profit in Bitcoin or convert it to their preferred currency. Scriptwriters and podcasters are moving to Substack to restore creative and financial freedom, and BTC is the best solution for them. ”
Recall that recently United Wholesale Mortgage, one of the largest US mortgage operators, announced that it plans to start accepting payments in BTC by the end of 2021.
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