Lightspark, one of the largest financial services companies focused on offering products using Bitcoin’s Lightning Network, hopes to expand its services to Latam. The startup specializes in building infrastructure for other companies that want to integrate Lightning Network services, making bitcoin transactions quicker and cheaper for end users.

Lightspark’s use case is tailored to solve the cross-border payments and remittances problem, given that it can offer an alternative to banking transfers that can be slow and costly. Nicolas Cabrera, Lightspark’s VP of product, expects Lightspark’s rails to reach 250 million users in the next year, using the services provided by partners like Coinbase, and Latam’s institutions like Bitso and Nubank.

Cabrera referred to Latam as Lightspark’s most important market, as the region has shown to be open to adopting decentralized finance solutions, as opposed to other parts of the world. In an interview with local media, Cabrera stated:

The network of partners we already have here serves as a good benchmark for the types of experiences we can bring to our partners and scale globally.

This means Latam might be considered testing grounds for Lightspark products, seeking to test their products at scale before entering other markets with higher transactional volumes.

Cabrera highlighted that the region’s inflation and devaluation problem might help kickstart the company’s operations. He explained that moving money presented challenges everywhere, but these challenges were “more pronounced where there are large currency fluctuations.” “Many Latin American countries feel this acutely, but we all face the problem that money is stuck,” he concluded.

Lightspark’s services can be integrated seamlessly, allowing users to send payments in their currency of choice. The system allows for currency conversion behind the curtains, and the Lightning Network can be used in the background, with users not even knowing that they are leveraging this tool.

To follow all the latest developments in crypto and the economy in Latin America, sign up for our Latam Insights newsletter below.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。