Revolut adds Lightning Network to speed up Bitcoin payments

Revolut supports fast and low-cost bitcoin transactions through a new partnership with Bitcoin infrastructure company LightSpark.

Revolut, a new UK bank, has integrated the Lightning Network to accelerate and reduce Bitcoin transaction costs for UK users and expand to European Economic Area countries.

Through a new partnership with LightSpark, Revolut will be able to access LightSpark's full payment stack, including its MoneyGrid system.

LightSpark's proprietary routing layer MoneyGrid is designed to optimize cross-border payments and inter-bank transactions. The system connects 300 million users in 140 countries, providing a seamless and scalable solution for global BTC transmission.

With this integration, Revolut will be able to process Bitcoin transactions in seconds and provide almost instant settlement points, leading most traditional banks in transaction speed and efficiency.

"The current payment environment is slow, expensive and has a lot of shortcomings. It's like using dialing in the 5G world," said David Marcus, CEO of LightSpark.

“We are delighted to work with Revolut, known for its bold and visionary vision, to bring the best financial products and services to our customers. It’s not just cryptocurrency payments. It’s about building a modern open financial network that will benefit everyone.”

The integration with the Lightning Network is the latest in a series of actions by Revolut to expand its crypto products and enhance its position in the global fintech market.

Earlier this year, the company launched a new generation of payment tools that blur the line between digital assets and traditional finance, aiming to provide seamless and effective payment solutions for modern consumers.

The bank's crypto products already include the ability to buy, sell and hold Bitcoin and other cryptocurrencies, as well as cryptocurrency exchanges and DeFi products.

The partnership with LightSpark will further expand Revolut's encryption capabilities and help it achieve its goal of becoming the world's leading financial services company.

A Revolut spokesman said: “We are always looking for ways to improve the financial products and services we provide to our customers.”

“This partnership with LightSpark will enable us to trade bitcoin faster and more efficiently, put us ahead of our competitors and provide our customers with the seamless and direct payment experience they expect from Revolut.”

The integration will be launched in phases in the coming months. It will be available to UK users and extend to EEA countries.

This partnership marks an important step in advancing cryptocurrency payments and integrating blockchain technology into mainstream financial systems. It highlights the growing demand for efficient, scalable and global payment solutions in today’s interconnected world. Therefore, the partnership between LightSpark and Revolut has great potential to innovate and disrupt the financial industry.

As the partnership develops, it will be interesting to observe the impact on bitcoin transaction volume and user adoption in the Revolut ecosystem. In addition, MoneyGrid’s massive 300 million users and 140 countries can pave the way for an optimized cross-border payment experience to cater to a very diverse user base.

This collaboration demonstrates the synergy between institutions and technologies in shaping the financial future. This could be the beginning of a wider integration of cryptocurrencies and blockchain into the mainstream, ultimately providing a more open, efficient and accessible financial system for everyone.

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