Lightning Network receives support from Bitfinex exchange, stablecoin will be ushered in next step

In the past year, the Layer 2 protocol Lightning Network has encountered a lot of trouble, and with the continuous improvement work, it has welcomed the support of the first mainstream exchange today.

On December 3, Beijing time, the digital asset exchange Bitfinex announced that it will support Lightning Network deposit and withdrawal from tomorrow.

Bitolox CTO and Tether CTO Paolo Ardoino mentioned that he hopes that users will be able to open the Lightning Network channel, and he promised that there will be a link page tomorrow.


It is reported that the company also plans to introduce the stablecoin USDT and Tether Gold to the Lightning Network.

As early as June of this year, Ardoino mentioned that Bitfinex will launch stablecoin on the Lightning Network by the end of this year. At that time, the Bitfinex team was working on deploying Tether on the Liquid sidechain to deliver assets on the Lightning Network .

In November, Bitfinex also added support for the Bech32 address format, and this step is exactly the way to support the Lightning Network.

Ardoino expressed in an interview:

"We really like Lightning Network (I personally do a lot), so we want to contribute to it."

The Lightning Network is a second-tier payment protocol. It is based on the Layer 1 blockchain (such as Bitcoin). The purpose of this protocol is to accelerate transactions between participating nodes. It is also promoted as a solution to Bitcoin's challenges. The main path to scalability issues.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


Bitcoin ETFs Catapult into Top 5 as Investors Shift from Gold

Exciting developments may be in store for Bitcoin and altcoins as a potential trend shift appears to be on the horizo...


Cardano's DeFi Ecosystem Flourishes Total Value Surges to Almost $450M as ADA Rockets 17% on Layer 1 Push!

This week, the total value locked (TVL) of Cardano-based tokens skyrocketed to more than $440 million, surpassing the...


Why is Cardano's (ADA) price rising this week?

ADA's recent surge in value can be attributed to the overall upward trend in the market and the positive impact of th...


From EOS, Sun Yuchen and Ownen Cong, ADA founder Charles Hoskinson took turns to diss it again.

The dilemma of EOS seems to be far from cooling.'s June conference did not release "disruptive&qu...


Blockchain User Activity Survey Ethereum Still Reigns, Who is Using Litecoin and Tron?

Cryptocurrency KOL Ignas conducted a survey on blockchain user engagement and compiled 7 important insights.


Cardano’s Price: Falling Like a Tripped Bull

ADA's value drops as traders take profit amid steep rise and in anticipation of Federal Reserve's rate decision.