LQwD Fintech Corp. (TSXV: LQWD, OTC: LQWDF), a Bitcoin Lightning Network focused company developing institution grade payment infrastructure and solutions, is pleased to provide the following corporate re-cap, since the Company completed the acquisition of LQwD Financial Corp. in June 2021, creating the first publicly traded Lightning Network company:
Shone Anstey, CEO of the Company, commented, “I wanted to take a moment to re-cap what has been an active six months for LQwD since listing in June. The remarkable growth of the Lightning Network has validated LQwD’s reason to be hyper-focused on Lightning and I look forward to continuing to expand our business on this rapidly growing global payment network.”
About the Lightning Network
The Lightning Network is layer-two technology and a solution to mass scaling the usage of Bitcoin for microtransactions globally. In addition to having the ability to transact at millions per second, Lightning Network dramatically improves upon fees, as well as instant settlement times.
The Lightning Network continues to experience explosive growth since January 1, 2021 as follows:
Some well-known prominent companies such as Lightning Labs, Twitter and Jack Dorsey’s Square have openly expressed their enthusiasm to incorporate Bitcoin Lightning Network into their platforms.
LQwD is an early mover as a Lightning Network Service Provider (LSP) focused on developing payment infrastructure and solutions. LQwD is developing 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 as warranted, acquires Bitcoin as an operating asset to secure nodes, liquidity and payment channels across 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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