{"id":71357,"date":"2022-12-12T18:14:39","date_gmt":"2022-12-12T16:14:39","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=71357"},"modified":"2025-09-08T08:14:22","modified_gmt":"2025-09-08T05:14:22","slug":"lightning-network-used-for-money-transfers-between-europe-and-africa","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/lightning-network-used-for-money-transfers-between-europe-and-africa\/","title":{"rendered":"Lightning Network Used for Money Transfers Between Europe and Africa"},"content":{"rendered":"<p>British cryptocurrency exchange CoinCorner has enabled users to send fiat transfers from the UK and the EU to Africa, using Bitcoin and the Lightning Network for micropayments.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">CoinCorner customers can now &#8220;Send Globally&#8221; from the UK and Europe to Africa, using <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> and the Lightning Network \ud83c\udf0d\u26a1\ufe0f<\/p>\n<p>We&#8217;ve partnered with <a href=\"https:\/\/twitter.com\/Bitnob_official?ref_src=twsrc%5Etfw\">@Bitnob_official<\/a> to facilitate cross-border transactions from the UK and Europe to Nigeria, Kenya and Ghana.<a href=\"https:\/\/t.co\/ves2EtrSKs\">https:\/\/t.co\/ves2EtrSKs<\/a><\/p>\n<p>\u2014 CoinCorner \u26a1\ufe0f Buy Bitcoin at CoinCorner.com (@CoinCorner) <a href=\"https:\/\/twitter.com\/CoinCorner\/status\/1602256134399737859?ref_src=twsrc%5Etfw\">December 12, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Bitnob was the partner in delivering the Send Globally service.<\/p>\n<p>The app lets users send GBP or EUR to Nigeria, Kenya and Ghana directly to a bank account.<\/p>\n<p>Client funds used with Send Globally are converted into Bitcoin and sent via the Lightning Network to Bitnob. The latter immediately converts them into the corresponding local currency: naira (NGN), shillings (KES) or cedi (GHS).<\/p>\n<p>CoinCorner noted that, for these three countries, the UK alone accounts for about \u00a312 billion in annual transfers.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The remittance market is a huge opportunity for Bitcoin. The cross-border nature of cryptocurrency makes it an excellent tool for sending fiat around the world. With the Lightning Network this happens instantly and at a very low cost,&#8221; said CoinCorner CEO Danny Scott.<\/p>\n<\/blockquote>\n<p>Bitnob head Bernard Para reminded that sub-Saharan African countries remain among the most expensive regions for money transfers. According to World Bank data for the end of 2020, sending $200 there cost on average 8.2% of the amount.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Bitcoin provides the future of money, and our partnership demonstrates a compelling example of what it will look like,&#8221; Para added.<\/p>\n<\/blockquote>\n<p>In November, the developers <a href=\"https:\/\/forklog.com\/en\/news\/developers-fix-a-critical-bug-that-caused-a-lightning-network-outage\">fixed a critical bug<\/a> in the Lightning Network, which caused a network outage.<\/p>\n<p>In October, Bitmatrix founder Burak Kedjeli <a href=\"https:\/\/forklog.com\/en\/news\/complex-bitcoin-transaction-caused-a-lightning-network-outage\">deliberately exploited a bug<\/a>, performing a complex <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-multisignature-what-is-a-ring-signature\">multisig<\/a>-transaction, knowing that it would disrupt node operation.<\/p>\n<p>Read ForkLog Bitcoin news in our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 news on cryptocurrencies, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>British cryptocurrency exchange CoinCorner has enabled users to send fiat transfers from the UK and the EU to Africa, using Bitcoin and the Lightning Network.<\/p>\n","protected":false},"author":1,"featured_media":71358,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[325,1729],"class_list":["post-71357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-lightning-network","tag-money-transfers"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=71357"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71357\/revisions"}],"predecessor-version":[{"id":71359,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71357\/revisions\/71359"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/71358"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=71357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=71357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=71357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}