The Bitcoin Lightning Network keeps expanding its reach across the globe with its latest endorsements. Covered: Lightning Network Lands In Argentina Cash App Enables Lightning Network The number of publicly known Lightning Network nodes has hit an all-time high. pic.twitter.com/M8BoHsARBa — Pomp ?? (@APompliano) January 11, 2022 Today is a bullish day for Bitcoin, both […] The post Argentina Is Adopting Bitcoin Lightning Network appeared first on CryptosRus.

Argentina Is Adopting Bitcoin Lightning Network

The Bitcoin Lightning Network keeps expanding its reach across the globe with its latest endorsements.

Covered:

  • Lightning Network Lands In Argentina
  • Cash App Enables Lightning Network

Today is a bullish day for Bitcoin, both in price and in fundamentals. As the king crypto asset flips green following bullish commentary from the Federal Reserve, its use cases are clearly growing after receiving major news today from both companies and countries alike.

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Lightning Network Lands In Argentina

Today, global payments processor Strike Global announced that the Bitcoin Lightning Network is set to land in Argentina, enabling the country’s 45 million citizens to instantaneously and efficiently transfer value among each other.

Argentina is a prime candidate for adopting the Bitcoin Lightning Network. With an inflation rate of over 51% as of November 2021, provided by TradingEconomics, Bitcoin offers the population potential for refuge from consistent double-digit inflation that’s pervaded the nation for over six years now. 

 

The move follows that of El Salvador’s back in June of last year, when the country announced a collaboration with Strike Global to enable Bitcoin transactions throughout the country. That same country soon went on to fully adopt Bitcoin as legal tender.

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Cash App Enables Lightning Network

In addition to more countries onboarding the Lightning Network, traditional payment providers like CashApp are hopping aboard as well. Today, Cash App announced that the Lightning Network is now enabled on the app, available to use for its 36+ million users.

The picture that’s being painted here is clear: payments companies across the board will have to start offering Bitcoin Lightning payment solutions to their platforms in order to remain competitive with transaction fee rates. With inflation numbers rising across the board throughout the US and other nations, consumers are going to be paying more attention to the value being reaped for their dollars. Cash App’s move to adopt the Lightning Network is the chess move needed to stay ahead of the game in an increasingly-competitive payments environment. 

As Strike CEO Jack Mallers would say…

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