Bitso Launches Lightning Network for 8 Million Users Across Latin America

Bitso, a well-known cryptocurrency exchange in South America, has integrated Bitcoin’s Lightning Network, allowing for quicker and more affordable transactions for all customers, Lightspark said on November 12. As Bitcoin’s popularity continues to grow, particularly in light of its recent price spike to around $89,894, which represents a 28% gain over the previous week, this represents a big milestone for Bitso.

Bitso was able to incorporate Lightspark’s cutting-edge Lightning Network infrastructure thanks to their relationship, which was first formed in June. With this feature, Bitso’s 8 million+ retail clients can now transact Bitcoin almost instantly. Bitso users in Argentina, Brazil, Colombia, and Mexico enjoy an efficient experience because to the Lightning Network’s layer-2 technology, which lowers costs and transaction times.

Bitso’s Journey to Become a Latin American Crypto Powerhouse

Founded in April 2014, Bitso started as Mexico’s first cryptocurrency exchange, pioneering digital asset trading in the region. By 2020, Bitso’s user base had surpassed one million, and the exchange began its expansion into Argentina and Brazil. These moves fueled its growth and, in 2021, Bitso achieved unicorn status, becoming Latin America’s first crypto startup valued over $1 billion.

In 2023, Bitso expanded further, launching international payment services, solidifying its role in Latin America’s growing crypto ecosystem. By adding Lightning Network support, Bitso now offers faster transactions, catering to the increasing demands of users across Latin America. This integration also aligns with Bitso’s commitment to accessible, efficient financial solutions, particularly in regions where traditional banking infrastructure can be limited.

Lightspark’s infrastructure plays a key role in Bitso’s network capabilities, as its Lightning Network integration facilitates seamless Bitcoin transactions. This collaboration supports both companies’ objectives to broaden crypto accessibility and to reduce the costs and time associated with digital currency transactions.