Former head of Meta’s payments division, David Marcus, announced the launch of a new company, Lightspark, aimed at expanding the use of Bitcoin.
Lightspark has attracted backing from several major investors, including Andreessen Horowitz, Paradigm, Coatue and Matrix Partners.
According to Marcus, in the initial phase the company is assembling a team to explore and develop the Lightning Network protocol.
Lightspark plans to build the infrastructure for companies, developers and merchants to conduct transactions via the Lightning Network.
Marcus was head of Meta’s blockchain division and helped develop Libra, the digital currency project was never launched due to regulatory pressure.
In late 2021, Marcus announced his departure from Meta. He described himself as a big Bitcoin enthusiast and stated his confidence in the future of the first cryptocurrency.
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