- LQwD is focused on creating enterprise-grade infrastructure to drive bitcoin adoption and, develop institutional-grad services supporting the Lightning Network functionality, transaction capabilities, and bring BTC to scale
- LQwD Lightning Network nodes include Canada, France, Japan, England, Japan-Osaka, Australia, Italy, Indonesia, Bahrain, South Africa, South Korea, Sweden, Singapore, Hong Kong, Brazil, Germany, India, Ireland, and US-West
- Currently servicing 17 countries, LQwD plans to increase reach to 24 worldwide by the end of the current quarter
- The global blockchain market was valued at US $4.67 billion in 2021 and is projected to reach US $7.18 billion in 2022, and then US $163.83 billion by 2029
LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF) is a financial technology company focused on creating enterprise-grade infrastructure to drive bitcoin adoption and develop institutional-grade services that support the Lightning Network’s functionality, transaction capabilities, user adoption and utility, and scale bitcoin. The company’s platform-as-a-solution (“PaaS”), lqwd.tech enables Lightning Network node hosting and channel management and serves as a Liquidity Service Provider (“LSP”) for merchants – allowing for blockchain transactions worldwide.
Blockchain was introduced in 2008 and is a digitally distributed, decentralized, public ledger most notably used with cryptocurrencies – but the technology does not facilitate the transaction times necessary to bring it to scale. The Lightning Network, a layer 2 payment protocol atop the blockchain infrastructure, makes blockchain transactions more efficient with faster settlement times and lower fees. LQwD is leveraging the capabilities of the Lightning Network by establishing worldwide payment nodes that facilitate micropayments in 17 countries, intending to reach 24 by the end of the current quarter.
The company released its first node in November 2021 and has since increased its payment capacity to over 30 BTC exceeding 300 channels worldwide. LQwD plans to continue leveraging the network’s potential, adding more nodes, channels, and BTC assets to facilitate payments worldwide. LQwD’s current Lightning Network nodes include Canada, France, Japan, England, Japan-Osaka, Australia, Italy, Indonesia, Bahrain, South Africa, South Korea, Sweden, Singapore, Hong Kong, Brazil, Germany, India, Ireland, and US-West.
LQwD’s longest node in operation (almost 12 months old), US-West, has a BTC capacity of 6.11051221 (US $117,552.81) and 112 active channels. The node has been connected to 111 additional nodes to facilitate faster payment settlement times with lower fees. The active nodes (and future nodes) will help further the company’s goals to scale the Lightning Network for Bitcoin advancement.
Recent updates from 1ml.com, a blockchain explorer offering the ability to search the Lightning Network’s node activity, reported that the Lightning Network had surpassed previous records, reaching a capacity of 4800 BTC (equivalent to approximately US $92 million). The top three countries include the United States (2586 BTC), Germany (370 BTC), and Canada (139 BTC) (https://ccw.fm/Bu1XS).
The adoption of digital ledger technology by companies looking to secure end-user financial data and identity is driven by the necessity for cross-border transactions, expedient clearing and settlement times, trade financial platforms, digital identity verification, and credit reporting are gaining traction across the market. The global blockchain market was valued at US $4.67 billion in 2021 and is projected to reach US $7.18 billion in 2022. By 2029, growing at a CAGR of 56.3%, the market is expected to reach US $163.83 billion (https://ccw.fm/xEQjq).
LQwD plans to leverage its position as a public company to enhance trust in its products and services, easily access capital through the markets, leverage stock as currency for acquisitions, and attract/retain top industry talent. The strategy to scale the market includes offering its PaaS for Lightning Network nodes and payment channels, providing LSP services for merchants, and accumulating Bitcoin as a treasury reserve asset for staking and liquidity.
For more information, visit the company’s website at www.LQwDFinTech.com.
NOTE TO INVESTORS: The latest news and updates relating to LQWDF are available in the company’s newsroom at https://ccw.fm/LQWDF
CryptoCurrencyWire (“CCW”) is a financial news and content distribution company that provides (1) access to a network of wire services via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets, (3) enhanced press release services to ensure maximum impact, (4) social media distribution via IBN (InvestorBrandNetwork) to nearly 2 million followers, and (5) a full array of corporate communications solutions As a multifaceted organization with an extensive team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CCW brings its clients unparalleled visibility, recognition and brand awareness. CCW is where news, content and information about crypto converge.
To receive instant SMS alerts from CryptoCurrencyWire, text “CRYPTO” to 844-397-5787 (U.S. Mobile Phones Only)
For more information, please visit https://www.cryptocurrencywire.com
New York, New York
CryptoCurrencyWire is part of the InvestorBrandNetwork.