Blockchain

Cash App integrates Bitcoin Lightning Network for faster BTC transfers

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Popular mobile payment service Cash App integrates Bitcoin (bitcoin) Lightning Network as part of an update that allows for faster and cheaper BTC transfers using the Layer 2 (L2) payment protocol.

Cash App is developed and owned by Block (formerly Square), a fintech company co-founded by former Twitter CEO Jack Dorsey. The announcement of the BTC L2 integration was shared as a notification on the official Cash App app via Crypto Twitter:

The Bitcoin Lightning Network protocol addresses the apparent limitations of the BTC blockchain to increase speed while reducing the costs associated with transactions.

Just last month, Dorsey showed off the Lightning Development Kit (LDK), a service developed by Square’s subsidiary Spiral, in a video focused on building the Bitcoin ecosystem. LDK allows developers to integrate the Lightning Protocol into Bitcoin wallets and related services.

Before leaving Twitter, Dorsey also publicly expressed interest in integrating the L2 protocol for the new tipping service on Twitter and BlueSky:

Newest data Data from Business of Apps shows that Cash App caters to more than 36 million users in the US and UK.

related: Block’s Cash App will allow users to give away BTC for the holidays

To support the continued adoption of Bitcoin, Cash App has launched a service that allows users to give away BTC and stocks during the holiday season.

Cash App allows users to send at least $1 worth of BTC without owning the asset in advance.