Kraken to Add Support for Lightning Network in 2021
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Cryptocurrency exchange Kraken has announced it will add support for Lightning Network in 2021. The exchange says it will hire a special team focused on the Lightning Network.

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According to an official announcement, Kraken plans to integrate withdrawal and deposit feature for bitcoin (EXANTE: Bitcoin) on Lightning in the first half of 2021.

"Building on Bitcoin’s blockchain technology, the Lightning Network will help the world’s largest cryptocurrency scale to process millions of transactions per second," the exchange said.

iHodl earlier reported that Lightning Labs rolled out a new product focused for business called Lightning Pool. The non-custodial, peer-to-peer marketplace for Lightning allows node operators to purchase or sell channels. Ryan Gentry, Business Development Lead at Lightning Labs, said the release was a major milestone of an important development in the evolution of Lightning financial products.

Visa Extends Fintech Fast Track Program with Bitcoin Lightning Network Startup

In September 2020, Bitfinex announced it had integrated the Lightning Network Wumbo channels. The Wumbo channels allow users to deposit and withdraw "large amounts of bitcoin quickly and cheaply, thus allowing them to take advantage of trading opportunities."

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

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