by Alex Bosworth In March, we at Lightning Labs announced Lightning Loop, which provides an on-demand non-custodial service to help manage Lightning channels. Our first release, Loop Out, was designed to make it easier to receive Lightning payments, particularly for those selling goods and services via Lightning.
Lightning Labs raised $10 million in order to launch its first paid service for merchants looking to accept bitcoin payments.
Great news for bitcoin and layer 2 lightning network. The future of having a very fast way to pay on bitcoin network is coming more and more near in the future. A lot of startups are working in this field and believing in this project.
Lightning Labs also introduced the beta version of Lightning Loop, the company’s first paid product. Lightning Loop aims to help startups, node operators and users send and receive funds on the Lightning network more efficiently, allowing them to transfer funds between the Bitcoin blockchain (BTC) and the LN in a non-custodial way. This service will charge a small % on each loop and is helping merchants and exchanges maintain liquidity in the channels.
Lightning labs are offering loop in
“Loop ‘in’ helps people put funds into their existing channel … kind of like a prepaid debit card for a lightning account. Loop ‘out’ is currently the most popular product because it allows people to continue receiving funds on lightning.”Lightning Labs CEO Elizabeth Stark said
Here below an interview to Elizabeth Stark of sometimes ago in a public youtube channel.
Lightning Labs is scaling!— Lightning Labs⚡️ (@lightning) February 5, 2020
Announcing our $10M Series A to fuel LN development, and the Lightning Loop beta release, a product making it easier send/receive #bitcoin instantly.
With 4000 developers and 30+ startups, the next decade of Lightning is on 🔥https://t.co/3P4gVm89OV