Nubank adds support for Bitcoin Lightning Network transactions

Nu Holdings (Nubank), a digital bank with a massive presence in Latin America, has struck a strategic partnership to add Bitcoin Lightning Network transactions to its operations.

Nubank is a leading neobank founded in 2013 and headquartered in Sao Paolo, Brazil. The bank has its services spread across Brazil, Mexico, and Colombia.

Its latest announcement reveals a groundbreaking partnership with Lightspark.

What does this partnership mean?

Specifically, Nubank has integrated the Lightning Network, bringing fast, low-cost and real-time Bitcoin payments to millions of its customers.

David Marcus, CEO and co-founder of Lightspark, said the collaboration will see the company play its role in Nu’s quest to bring Lightning to 100 million customers. Lightspark will help Nubank grow as it evolves its crypto solutions, Marcus added in a press release.

According to details of the announcement, the collaboration between Nubank and the blockchain company will help the Latin America fintech giant enhance its range of financial services, including in the development of new products.

Thomas Fortes, executive director at Nubank Crypto, said in a statement that the partnership with Lightspark offers Nubank the technical solution to cater to its clients. It also helps the digital bank’s mission to establish a long-term relationship with its customers.

Coinbase recently added Lightning Network

Lightspark is a pioneer of the Lightning Network ecosystem, with its enterprise-grade solution tailored to provide for a cost-effective payments network for Bitcoin and fiat.

Users access software, Application Programming Interfaces (APIs) and other tools that simplify integration and use for customers.

One of the most recent integrations for Bitcoin Lightning Network was by crypto exchange Coinbase, which announced its support for the solution in April. With Lightning, users can send, receive, or pay with BTC instantly and directly from their Coinbase accounts.