Revolut and Lightspark Join Forces to Accelerate Bitcoin Payments in Europe

Revolut partners with Lightspark to facilitate rapid bitcoin transactions, leveraging Lightspark’s Lightning Network for instant transfers. This partnership also includes access to the MoneyGrid payment system for easier cross-border transactions. The move reflects a growing mainstream acceptance of cryptocurrencies, highlighted by increasing investments from institutional players like Strategy and Brown University. Additionally, the U.S. faces challenges with its GENIUS Act as partisan tensions loom.

Revolut has announced a significant partnership with Lightspark, aimed at accelerating bitcoin transactions across Europe and the UK. Thanks to this collaboration, Revolut users can now leverage Lightspark’s Lightning Network-based payment protocol, which enables near-instant bitcoin transfers. This integration, detailed in a recent Lightspark blog post, opens new avenues for fast and efficient digital currency transactions.

Additionally, this partnership brings Revolut access to Lightspark’s innovative MoneyGrid payment routing system. The system is set to make cross-border transactions simpler and more efficient for both consumers and businesses alike. As Lightspark’s Co-founder and CEO David Marcus pointed out in the blog, the evolution of money is moving towards real-time, low-cost, and borderless experiences, which this collaboration perfectly aligns with.

Marcus was quite critical of traditional banking methods, likening them to outdated dial-up internet in contrast with the swift 5G world we live in now. He expressed optimism about seeing a global fintech leader like Revolut paving the way towards a seamless transaction future.

Revolut entered the cryptocurrency space in the UK back in May of the previous year, and by November, had successfully expanded its services to 30 countries within the European Economic Area. This move is part of a broader trend that’s seeing cryptocurrency recast as an increasingly mainstream asset class. Notably, firms like Strategy (formerly MicroStrategy) are investing heavily in bitcoin, raising $84 billion recently to bolster their corporate bitcoin reserves.

Moreover, a growing number of public companies—over 70 according to recent reports—are now adopting a Bitcoin treasury standard. This suggests a shift in attitudes towards bitcoin among large institutional investors, as noted by Strategy’s President and CEO Phong Le.

The wider acceptance of cryptocurrencies is also evidenced by Ivy League institutions. For example, Brown University has disclosed a notable $4.9 million investment in BlackRock’s bitcoin ETF. This signals a steadily growing acceptance of digital assets within diverse investment portfolios, which could indicate that such assets might not just be seen as speculative plays anymore.

Observers note that the rising popularity of bitcoin ETFs, alongside evolving regulatory frameworks, might signify a changing landscape for cryptocurrencies. It seems that the decentralised dream that once defined the crypto world might be shifting towards a more structured integration within established financial systems.

Shifting to other developments in the digital asset domain, the U.S. is currently navigating the GENIUS Act, its first major stablecoin bill, as it works its way through the Senate, although political tensions may lengthen the process. Jonathan Jachym, Kraken’s Global Head of Policy and Government Relations, stressed the importance of U.S. lawmakers uniting to establish clear regulations on stablecoin and market structures by August, especially as other global economies have made more headway on these issues.