Visa’s Fintech Fast Track program has announced extension of supported projects with a new Bitcoin-focused startup called Lastbit.
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With the inclusion in the program, Lastbit will reportedly be able to integrate its Lightning Network-based payments platform to enable its financial partners to issue Visa credentials to end consumers.
"...Lastbit can now work with Visa’s vast array of banking partners and principal members, to quickly get set up, build a minimally viable product and launch," the announcement states.
Visa's Head of Crypto, Cuy Sheffield, says the payments' giant is"excited to help innovative fintechs like Lastbit harness the value of Visa’s network."
"Through the Fast Track program, we can support Lastbit with access to Visa’s experts, technology, and resources to scale with efficiency," Sheffield said.
In September, cryptocurrency exchange Bitfinex announced it had integrated the Lightning Network Wumbo channels so that users can deposit and withdraw large amounts of bitcoin quickly and cheaply.
With the new payment methods, users can open channels up to 2 BTC capacity with either of its nodes. Digital wallet providers like Bitrefill, LnMarkets and Lightning Labs, could open channels with up to 5 bitcoin capacity, Bitfinex added.
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