- LQwD currently has Lightning Network nodes in several countries, including Canada, France, Italy, Indonesia, Japan, England, Bahrain, South Africa, South Korea, Sweden, Singapore, Brazil, Germany, India, Ireland, Hong Kong, and the United States
- Arcane Research reported that since its launch three years ago, the Lightning Network has grown to a capacity of almost 3,000 BTC with over 17,000 international nodes and 73,700 unique payment channels
- LQwD’s proprietary platform as a service offering also serves as a Liquidity Service Provider for merchants and incorporates an easy-to-use API
- The company hopes to expand to 24 international nodes by the end of the next quarter
Focused on building infrastructure on the Bitcoin Lightning Network global micropayment system, LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF) recently announced that the company has launched 17 nodes internationally on the Lightning Network, positioning itself to secure future routing fees in the rapidly expanding global payments network. LQwD’s international node selection now includes Canada, France, Italy, Indonesia, Japan, England, Bahrain, South Africa, South Korea, Sweden, Singapore, Brazil, Germany, India, Ireland, Hong Kong, and the U.S. (https://ibn.fm/xZlep).
LQwD launched its first node in November 2021, US-West, and since that time, it has amassed a capacity of 5.78671656 BTC (US $118,805.11). The current channel count for US-West is 107, with 106 connected nodes. LQwD’s nodes can be followed at www.lqwdfintech.com.
“Since launching our first Lightning Network node in November 2021, LQwD’s nodes have already routed over 72 BTC and over 36,000 transactions, which is extremely encouraging in these early stages,” LQwD CEO Shone Anstey said. “We are making excellent progress establishing LQwD as a serious network participant, and in coming months, we will launch the LQwD business-to-business platform (now in beta), which also allows retail customers to take advantage of the economics and efficiencies of the network.”
According to Arcane Research’s recently released “State of Lightning” report, since going live almost three years ago, the Lightning Network has grown to a capacity of almost 3,000 BTC and over 17,000 nodes operating internationally with 73,700 unique channels. Since August, the wallet payment volume has increased by 20% month-over-month, exceeding the monthly growth rate of 10% from the metric channel capacity. The report also predicts that if other “poor banking access” countries can follow the lead of El Salvador, there could potentially be 50 million Lightning Network users who would represent $17 billion in annual payment volume by 2030 (https://ibn.fm/vwMsR).
In November 2021, LQwD launched its platform as a service (“PaaS”), https://lqwd.tech/, for Lightning Network node hosting and channel management. The platform also serves as a Liquidity Service Provider (“LSP”) for merchants and incorporates an easy-to-use API. LQwD aims to increase to 24 nodes internationally by the end of the next quarter, which will broaden the reach and increase the payment capacity of those utilizing the PaaS offering.
As a publicly traded company, LQwD aims to leverage its position to enhance trust in its products and services for more easily accessible market capital, leverage stock as currency for acquisitions, roll-up, and growth, and attract and retain top industry talent. By rolling up LSPs and the Lightning Network payment and service companies, LQwD plans to grow quickly. This allows them to further its goal of securing market share, acquiring Bitcoin, and expanding into other Lightning Network to expand market shares. LQwD currently holds approximately 121 Bitcoin on its balance sheet, a portion of which is used to secure routing nodes and establish liquidity.
For more information, visit the company’s website at www.LQwDFinTech.com.
NOTE TO INVESTORS: The latest news and updates relating to LQWDF are available in the company’s newsroom at https://ibn.fm/LQWDF
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