The integration of the Lightning Network, a layer-2 solution built on top of the Bitcoin blockchain, will enable Nubank’s more than 100 million customers in Brazil, Colombia and Mexico to conduct near real-time fiat and Bitcoin transactions at lower costs. Also, Nubank will implement Universal Money Addresses (UMAs), which function like email addresses for sending and receiving money. This feature is expected to simplify financial transactions for users, making it easier to transfer both cryptocurrencies and fiat currencies.
Nu Holdings (Nubank) announces a partnership with Lightspark, a global leader in infrastructure for the Bitcoin Lightning Network, Bitcoin’s second-layer blockchain that scales and accelerates transactions. „The agreement between the companies aims to evolve the Nu app in the future by incorporating new blockchain-based features or services.” – according to the press release.
„As part of the agreement, engineering teams from both companies will initiate the technical integration process and explore the possibilities for new blockchain solutions through Universal Money Addresses (UMA). Any new experiences and usability enhancements in the Nu app will be detailed and disclosed in due course.” – the company says.
“The partnership with Lightspark, which has developed an excellent technical solution for the Bitcoin Lightning Network, is another step in Nubank’s mission to provide the best solutions for our customers and reinforce our long-term relationship with all of them. The future integration of Lightning underscores Nu’s ongoing mission to offer more efficient services with greater speed and lower costs through blockchain technology,” said Thomaz Fortes – Executive Director of Nubank Cripto.
“We’re excited to play a role in bringing Lightning to Nu’s 100 million customers and adding solutions to make their financial lives simpler and more efficient. At Lightspark, we’re delighted to enable Nubank to keep evolving their crypto solutions – it’s also been fantastic to work with the talented team at Nu,” stated David Marcus – CEO and co-founder of Lightspark.
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Lightspark offers the best enterprise-grade entry point to the Lightning Network. Their software and services enable the most demanding institutions to reliably tap into the Lightning Network, enabling near real-time, low-cost Bitcoin and fiat transactions. Lightspark SDKs, APIs, and developer tools allow a seamless and simplified experience and provide AI solutions that enable transactions to move freely. Through these tools, Nubank’s product engineers and operations teams will have access to more technological tools to create the best solutions for its customers on the blockchain.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
