The popular mobile payment service Cash App has integrated Bitcoin Lightning Network as part of its latest update.
The popular mobile payment service Cash App has integrated Bitcoin Lightning Network as part of its latest update. The application will enable faster and cheaper Bitcoin (BTC) transactions using the level 2 payment protocol.
Cash App was developed by Block (formerly Square), a fintech company founded by former Twitter CEO Jack Dorsey. The Bitcoin L2 integration was announced as a notification on the official Cash app and also shared on Twitter:
Lightning Network Protocol addresses improve speed and reduce transaction fees by addressing restrictions on the Bitcoin blockchain.
Dorsey appeared in a video last month of the Lightning Development Kit (LDK), a service developed by the Square Spiral subsidiary that focuses on developing the Bitcoin ecosystem. LDK allows developers to integrate Lightning protocols into Bitcoin wallets and related services.
Before leaving Twitter, Dorsey announced that they were considering integrating L2 protocols into the recently launched Twitter and BlueSky tipping services.
According to new data from Business of Apps, Cash App has more than 36 million users in the US and UK.