Revolut has added support for the Lightning Network infrastructure for users in the United Kingdom and select countries within the European Economic Area. The goal of the rollout is to simplify, speed up, and reduce the cost of processing Bitcoin transactions.
FinTech company Revolut has entered into a strategic partnership with Lightspark, a provider of Lightning Network solutions, aimed at eliminating delays and high transaction fees typically associated with the Bitcoin mainnet. As a result, Revolut users in several European countries will gain access to faster and more cost-effective BTC transactions.
According to the press release, the collaboration will also include the integration of Universal Money Address (UMA) technology, which allows users to send and receive cryptocurrency using a unique identifier formatted like an email address — significantly simplifying the transaction process.
Emil Urmanshin, General Manager for Crypto at Revolut, noted that the company is committed to delivering faster and more affordable payment solutions, and that Lightspark’s approach to global transactions fully aligns with that mission. David Marcus, Co-Founder and CEO of Lightspark, emphasized the need to move toward new payment standards, stating that “financial systems should be as fast and low-cost as modern communication technologies.”
As a reminder, in August 2024, Revolut joined the Ledger Live platform as a new provider, enabling users to purchase cryptocurrencies conveniently and securely with fiat while maintaining full control over their assets.
