Warren Buffet-backed Nubank adds Lightning Network to 100 million customers

Source: Crypto Briefing

Brazilian neobank Nubank announced today a partnership with Lightspark to integrate the Bitcoin Lightning Network into their crypto services, aiming to enhance transaction speed and scalability for over 100 million customers.

“The partnership with Lightspark, which has developed an excellent technical solution for the Bitcoin Lightning Network, is another step within Nubank’s purpose to offer the best solutions to our customers and to reinforce our long-term relationship with all of them,” highlighted Thomaz Fortes, Executive Director of Nubank Crypto.

Fortes added that this implementation endorses the neobank’s mission to offer more efficient services. Nubank has offered crypto to its customers since late 2022, although it only implemented withdrawals in April this year. In March 2023, Nubank launched its Nucoin token, which is part of a customer loyalty program.

Notably, Nubank received a $500 million investment from Berkshire Hathaway, the company led by the legendary investor and crypto critic Warren Buffett.

“Enabling over 100 million Nubank customers to access solutions that make their financial lives simpler and more efficient through Lightning is something unique and makes us extremely proud. At Lightspark, we are thrilled to enable the development of new services from the crypto universe alongside Nu’s talented team,” commented David Marcus, CEO and co-founder of Lightspark.

The announcement highlights that this is a significant step in blockchain technology utilization within Nubank’s offerings. The technical teams from both companies will explore further blockchain-based solutions to continue improving Nubank’s app functionality.

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Author: Gino Matos