LQwD Fintech Corp. (TSXV: LQWD, OTC: LQWDF), an emerging technology company developing payment infrastructure for the Bitcoin Lightning Network (LN), announces strategic deployment of a routing node in Jakarta, Indonesia.
“With a population of more than 260 million and over $50 billion crypto assets reportedly traded, Indonesia is one of the world’s most valuable, untapped, emerging markets, with all the right dynamics for Lightning Network to excel,” said LQwD CEO Shone Anstey. “Recently, the Indonesia Commodity Futures Trading Supervisor Agency (CoFTRA) announced acceptance to trade in over 200 cryptocurrencies, which will help pave the way for Lightning Network to become one of Indonesia’s preferred platforms for micro-payments and other transactions.”
Including LQwD’s recent node launch in Singapore and Germany, 127 nodes have interconnected with more than 130 transaction channels, routing approximately 10 Bitcoin through LQwD’s connected channels since launching our first Lightning Network node in late November 2021.
To follow LQwD’s node and channel growth, visit http://www.1ml.com.
About the Lightning Network
The Lightning Network is layer-two technology that solves the issue of mass scaling Bitcoin for global microtransactions. In addition to enabling millions of transactions per second, the Lightning Network dramatically reduces the fees currently charged, and serves up instantaneous settlement times.
The Lightning Network continues to experience explosive growth as follows:
Some well-known companies such as Lightning Labs, Twitter, and Jack Dorsey’s Block (Cash App), have openly expressed their enthusiasm to incorporate the Lightning Network into their platforms.
LQwD is a Lightning Network Service Provider (LSP) focused on developing payment infrastructure and solutions accelerating the global mega trend of Bitcoin adoption through the Lightning Network. The Company’s mission is to develop institutional grade services that support the Lightning Network and drive improved functionality, transaction capability, user adoption and utility and scaling Bitcoin. LQwD also holds and acquires Bitcoin as an operating asset establishing nodes and payment channels on the Lightning Network.
For further information:
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the Company’s business plans and the outlook of the Company’s industry. Although the Company believes, considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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