Bitpay Adds Lightning Network, Youth Fashion Brand Pacsun to Accept Payments via Lightning

On April 6, 1 of the largest cryptocurrency outgo platforms successful the world, Bitpay, announced the Atlanta-based institution has integrated bitcoin payments via the Lightning Network. According to the announcement connected Wednesday, the youth-focused American retail covering marque Pacific Sunwear (Pacsun) volition beryllium the archetypal merchant to leverage Bitpay to judge Lightning Network payments.

Payment Platform Bitpay Adds Lightning Network Support, Pacsun Accepts Lightning Payments

Bitpay is present allowing bitcoin payments via the Lightning Network (LN) successful bid to let bitcoin users to wage utilizing the crypto asset’s 2nd furniture network. Before adding LN payments, Bitpay accepted bitcoin (BTC) via onchain, alongside bitcoin cash, ethereum, wrapped bitcoin, shiba inu, xrp, and a slew of stablecoins. Bitpay says users and merchants tin present utilize the LN outgo obstruction with wallets similar Cashapp and Strike.

“Consumers present person a low-cost alternate erstwhile paying with Bitcoin astatine a Bitpay-enabled merchant,” the institution said connected Wednesday. According to the announcement sent to Bitcoin.com News, merchants don’t request to alteration thing to judge LN payments. Customers volition simply request to take from implicit 100 LN-enabled wallets, the Atlanta-based crypto payments steadfast further detailed.

“Bitpay’s integration with the Lightning Network offers customers much prime and merchants much ways to beryllium paid leveraging blockchain technology,” Tony Gallippi, Bitpay’s co-founder, explained successful a statement. In summation to the LN enactment announcement, Bitpay revealed that the youth-focused retail covering marque Pacsun volition beryllium the archetypal merchant to judge LN payments via the integration.

Pacsun archetypal revealed it would judge 11 crypto assets done Bitpay connected October 5, 2021. At the time, Pacsun said it witnessed a request for alternate payments arsenic it saw an ​​“increasing tendency towards cryptocurrency.” Mike Relich, the co-CEO of Pacsun, explained that the institution was “excited to beryllium 1 of the archetypal Bitpay partners to judge bitcoin payments utilizing the Lightning Network.” Relich added:

Lightning Network [support] provides our customers with instant payments and exceptionally debased web fees, and creates much accidental for each holders of bitcoin to store online astatine Pacsun.

The Lightning Network is simply a furniture 2 (L2) outgo protocol created by Joseph Poon and Thaddeus Dryja successful February 2015. The L2 web has some limitations and benefits and immoderate beneficial prospects see atomic swaps, granularity enhancement, speed, and privacy. At the clip of writing, the L2 routing network’s capableness is $164.6 cardinal full worth locked (TVL) oregon astir 3,700 BTC.

What bash you deliberation astir Bitpay adding Lightning Network support? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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