On September 14, the Paxful P2P platform for Bitcoin trading announced the integration of the Lightning Network payment protocol. This was reported in a press release.
The new feature will allow the company to reduce fees for Bitcoin transactions.
“When users send or receive bitcoins through the Lightning Network using the Paxful wallet, their bitcoin balance is used as if they were transferring it on-chain,” said representatives of the platform.
Instant processing will allow customers to use the Lightning Network for both P2P transfers and for paying for goods and services.
“The industry’s hopes for speed and low-cost transfers in the Bitcoin network are precisely tied to the Lightning Network. Integrating this technology into our peer-to-peer platform will give users financial freedom and make buying coffee with bitcoin feasible,” commented Paxful CEO Ray Youssef.
According to Coin Dance, Paxful’s weekly trading volume on the platform exceeds $40 million.
Earlier, in March 2020, Paxful integrated Chainalysis solutions for monitoring suspicious transactions.
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