![Nubank Partners With Lightspark to Bring Lightning Network Access to Over 100 Million Customers in Latam Nubank Partners With Lightspark to Bring Lightning Network Access to Over 100 Million Customers in Latam](https://static.news.bitcoin.com/wp-content/uploads/2024/06/dcfc0d5b-bd75-4113-8324-dbdde4affe03-768x432.jpg)
Lightspark will also integrate the Universal Money Address standard for Nubank, which gives an email-like address for users to send and receive money.
Brazilian neobank Nubank has partnered with payments platform Lightspark to offer the Bitcoin Lightning Network to its 100 million customers in Latin America.
Lightspark said on June 25 that it’s working with Nubank to start the Lightning “integration, mapping, and building potential products” and would have “more to share in the future.”
Lightspark will also integrate the Universal Money Address standard — a payment system built on top of Lightning that gives users an email-like address to transfer money.
The co-creator of Facebook’s cryptocurrency project Diem thinks the future of real-time payments will have utility in multiple sectors across the world. David Marcus is the co-founder and CEO of Lightspark, a startup that aims to build Bitcoin (BTC)-based enterprise payment solutions for the Lightning Network. Marcus says in a new interview with Anthony Pompliano […]
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Marcus said there’s still no universal protocol when it comes to transferring money, unlike information which can be shared via email.
While information today can be easily transferred over the internet via email or text, global payments on the other hand, have remained in a “fax era," according to the former president of PayPal.
In a Sept. 11 interview with CNBC, the former PayPal executive and co-founder of Bitcoin Lightning-focused payment service Lightspark said he believes Bitcoin's Lightning network could solve the cumbersome process of sending money across jurisdictions.
“If you were to stop [someone] and wanting to communicate with them you could ask them for an email address and you can email them easily the next minute [and] you could text them,” said Marcus.
However, there’s no universal protocol when it comes to transferring money over the internet, he said:
“If you were to send them money [but] they were not a U.S citizen here using one of the same fintech apps you're using then you wouldn't be able to do that. So we're still in the fax era of global payments.”
Marcus explained that a money transfer to non-U.S. residents in this case would involve obtaining their bank account number and walking to the local bank to pay $50 for an international wire.
“If it's after Friday at 5 pm, tough luck,” Marcus added.
David Marcus on #bitcoin as base settlement layer for "Trillions of dollars of transactions"pic.twitter.com/L21fmiwxyZ
— Alex Stanczyk ∞/21m (@alexstanczyk) September 11, 2023
Marcus, who co-founded Lightspark in May 2022 and serves as CEO, said his company is now in a race to solve that using the Bitcoin Lightning network.
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The former PayPal president however believes that ultimately, Bitcoin Lightning won't be used so much for everyday purchases, and instead be mainly used for overseas transfers.
“Our view is actually that Bitcoin is not the currency that people will use to buy things.” Instead Bitcoin will be used to send U.S. dollars to someone that ultimately receives it in the form of a Japanese Yen or Euro on the other side of the world, the Lightspark boss explained.
Marcus said Bitcoin’s settlement layer combined with Lightning’s real-time payments enables cash finality at a very low cost.
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