Experience Lightning Speed Transactions with Lightspark and Coinbase. Led by CEO David Marcus, former President of PayPal, Lightspark has been chosen by Coinbase, the largest US cryptocurrency exchange, to bring the Bitcoin Lightning Network to its platform. This groundbreaking integration will empower Coinbase customers to engage in instantaneous and cost-effective bitcoin transactions.
Thrilled to announce that @Coinbase has selected @Lightspark to enable the #Bitcoin Lightning Network across its platform and services. Yet another significant milestone for Lightning! ⚡to many millions of new people and 100+ countries coming soon! https://t.co/Dj5JDqdmOl
— David Marcus (@davidmarcus) April 3, 2024
“Coinbase is dedicated to enhancing the efficiency of the global financial system,” said Shan Aggarwal, VP of Corporate & Business Development. “We are thrilled to collaborate with Lightspark to revolutionize payment processes and provide faster, more cost-effective Bitcoin transactions through the Bitcoin Lightning Network.”
With years of meticulous development, Lightspark has emerged as the go-to destination for institutional clients seeking top-tier solutions for Bitcoin transactions through the Lightning Network. Their partnership with Coinbase entails the deployment of Lightspark’s cutting-edge tools and services, including SDKs, APIs, and developer resources that streamline the implementation and management of Lightning nodes.
The integration showcases Lightspark’s remote-key signing methodology, wherein Coinbase manages Lightning signing keys while Lightspark hosts the Lightning node. This configuration aims to ensure scalability, reliability, and the optimization of node infrastructure, enabling Coinbase to focus on delivering exceptional user experiences without the complexities of overseeing a large-scale Lightning implementation.
“Working with David and the Lightspark team has been a pleasure,” Coinbase Protocol Specialist Viktor Bunin stated. “Their technology is cutting-edge, and we are excited to collaborate with them to introduce Lightning support soon™.”
The official announcement comes nearly a year after Coinbase CEO Brian Armstrong pledged to integrate the Lightning Network onto the platform. As demand for efficient Bitcoin transactions rises alongside Bitcoin prices and transaction fees, this integration arrives at a pivotal juncture. With a staggering $154 billion in quarterly traded volume, Coinbase is poised to offer its clients access to affordable and swift Bitcoin transactions, significantly enhancing scalability.
