Brian Armstrong, CEO, Coinbase, a crypto exchange, confirmed that the organisation is “looking into” including the Bitcoin Lighting network. It is believed that this addition might help to advance crypto payment adoption on a larger scale, stated Cointelegraph.
Sources revealed that on July 28, 2023, Armstrong addressed the crypto community on Twitter (rebranded to X), mentioning the scope of cryptocurrencies to improve global payments infrastructure. “This will take lots of work from all of us, Coinbase included, getting layer 2’s integrated, better on-ramps, simpler UX/onboarding, etc,” Brian Armstrong, explained.
It is expected that the Lightning Network might be able to make Bitcoin transactions faster and cheaper by allowing users to create off-chain transaction channels. Supposedly, Jack Dorsey, CEO, Square, raised a question against the integration of Bitcoin Lightning on Coinbase, Cointelegraph added.
Armstrong confirmed that Coinbase was looking into adding support for Bitcoin Lightning and reassured its support for Bitcoin payments. “We want an open protocol for money transmission for the internet that’s not controlled by a single individual, company, or government,” Jack Dorsey told Cointelegraph.
(With insights from Cointelegraph)