RATE Group | Bitfinex Allows Lightning Network Shopping on Bitrefill with Bitcoin
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Bitfinex Allows Lightning Network Shopping on Bitrefill with Bitcoin

05 Dec Bitfinex Allows Lightning Network Shopping on Bitrefill with Bitcoin

Posted at 01:07h in Bitcoin News by

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Cryptocurrency exchange Bitfinex and crypto store Bitrefill partnered to allow the trading platform’s clients to shop with Bitcoin (BTC) over the Lightning Network.

According to a press release published on Dec. 4, Bitfinex users can instantly pay for a variety of services with Bitcoin that they hold on the exchange as of today.

A Lightning B2B settlement system

Per the press release, the companies attribute the development to the “world’s first dynamic B2B settlement process over the Lightning Network.” The announcement builds on recent news that Bitfinex enabled Bitcoin Lightning Network transactions and that those using it for deposits and withdrawals will pay almost no fees. The companies explained that setting up such a system required some tinkering:

“Bitfinex and Bitrefill utilize customized versions of Lightning to open large channels together, exceeding the default limits in place, but allowing better flow and reliability to users.”

The collaboration between the…

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