New Revolut Feature Uses Lightning Network For Faster Transfers
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Revolut is working with Lightspark to allow faster Bitcoin payments using the Lightning Network. The company said this partnership will help users in the United Kingdom and selected European countries transfer Bitcoin more quickly and with lower fees.
Traditional Bitcoin transfers are often slow and expensive. Revolut and Lightspark believe the Lightning Network can solve this. The system works as a second layer over the main Bitcoin network, helping to settle transactions in real time while reducing costs.
Revolut Aims To Use Lightspark’s Technology To Connect To The Lightning Network
Revolut said it will use Lightspark’s technology to connect to the Lightning Network. Lightspark’s infrastructure supports high-speed, low-cost Bitcoin transfers, which could change how digital banks offer crypto services.
Lightspark, led by former PayPal executive David Marcus, said it wants to build what it calls the “Money Grid.” This network is designed to support instant global payments across the internet. By working with Lightspark, Revolut aims to expand its crypto services beyond trading and storage.
Although no launch date has been announced yet, Revolut said it plans to roll out the new tool soon. The move places Revolut alongside other financial technology firms that are looking to improve crypto payments.
The Lightning Network has grown from a small idea into a real option for digital payment platforms. Strike, another fintech firm, said it processed $6 billion in volume last year using the Lightning Network. That figure shows the network’s growing role in fast and affordable Bitcoin transfers.
By adopting Lightspark’s system, Revolut said it is preparing to compete in real-time Bitcoin transactions. Users will be able to send Bitcoin instantly, skipping delays and avoiding large fees. Revolut announced that this tool is part of a larger plan to treat Bitcoin not only as an investment but also as a currency that works for everyday payments.
Revolut Sees Strong Growth While Expanding Crypto Services
Revolut recently reported a 149% jump in profit before tax, reaching $1.4 billion last year. The company said this was its fourth year in a row with strong profits, driven by global demand for digital banking and crypto features.
Nik Storonsky, CEO of Revolut, said the company is now Europe’s most valuable private tech firm. He added that the team is working toward reaching 100 million daily active customers across 100 countries.
The digital bank said its user base grew 38% to 52.5 million worldwide. Total customer balances rose 66% to $38 billion, showing continued interest in its platform.
Revolut said its new partnership with Lightspark fits its long-term vision. By bringing faster and more reliable crypto payments to the platform, the company hopes to stay ahead in the competitive world of digital finance.
