Revolut, the digital banking platform, announced plans to integrate Bitcoin (BTC) Lightning Network payments for users in the UK and select European Economic Area (EEA) countries. The integration is in partnership with Lightspark, a company led by former PayPal executive David Marcus, which provides backend infrastructure for decentralized, real-time global payments.
The Lightning Network is a layer-2 solution that allows faster and lower-fee transactions by processing payments off the main Bitcoin blockchain and settling them later. This new feature aims to help Revolut customers circumvent high fees and network congestion typically experienced on the base blockchain, enabling quicker and more cost-effective BTC transactions. While the specific timeline for launch has not been shared yet, Revolut's crypto general manager Emil Urmanshin describes the move as part of the company's ongoing mission to offer more affordable and efficient financial services.
With this integration, Revolut joins a growing group of fintech companies adopting Lightning Network technology. Similar platforms like Strike have seen significant growth, reportedly processing $6 billion in payments last year.
