- Since January, The Lightning Network has seen a growth rate of over 205%, according to company co-founder and CEO Shone Anstey
- Mid-November, LQwD took part in the Adopting Bitcoin – A Lightning Summit in El Salvador, a conference that brought together renowned industry experts in the Bitcoin and Lightning Network Community to discuss the future of money and payments in Central America and abroad
- LQwD announced that it spent a total of C$9.2 million (US$7.17 million) to purchase 150 Bitcoins, with an average cost of approximately C$61,000 (US$48,000) per Bitcoin. This purchase further strengthens the company’s strategic growth initiative
The Co-Founder, Chairman, and CEO of LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF), Shone Anstey, was recently featured on the InvestorBrandNetwork’s The Bell2Bell Podcast to discuss his company’s business model and proven track record in the cryptocurrency industry (https://ibn.fm/GIwdY). LQwD is a financial technology company focused on the creation of an enterprise-grade infrastructure that drives Bitcoin adoption. As a Lightning Network service provider, LQwD recently released its proprietary Lightning Network Platform as a Service (“PaaS”) – lqwd.tech, which allows users to easily create a node and payment channel on the network.
“We abstract away all of the complications. You hit a button, and you can integrate the API into your system and get going on the Lightning Network very, very seamlessly,” Anstey explained. “That platform is live and running; Our routing nodes help transactions get where they need to go, and, in exchange, we actually earn fees off of it. Last announced, we have 150 Bitcoin on the balance sheet, and we’re continuing to put that Bitcoin to use.”
According to the LQwD CEO, the company has had a very busy year following its going public and raising over $13 million in capital to buy Bitcoin, hire more developers and launch its products. The company remains committed to improving access to the Lightning Network and offering users the possibility of conducting fast and seamless transactions, and is working toward this goal by developing strategic partnerships with key cryptocurrency wallets and exchanges.
“We continue to add some key advisors from the space; we’ve signed deals with key wallets like Breez; we’ve signed deals with big exchanges such as Netcoins and continued to get our brand out there. We’ve made some big leaps and strides in an environment that is growing really quickly,” he explained, underlining that the Lightning Network itself has grown by more than 205% since January.
“We’re right in the thick of it, and we’re the only public company in the world focused on the Bitcoin Lightning Network. We’re going to continue to put our stamp on that position. We have just an excellent team, which is a really big help in driving everything forward. We’ve had success in the past, and we know where we’re going with the technology,” Anstey added.
To further popularize its PaaS offering, LQwD took part in the Adopting Bitcoin – A Lightning Summit in El Salvador mid-November. El Salvador is one of the few countries that adopted Bitcoin as legal tender, which contributed to much of the Lightning Network’s explosive growth this year. The conference brought together renowned industry experts in the Bitcoin and Lightning Network Community to discuss the future of money and payments in Central America and abroad (https://ibn.fm/stCAV).
LQwD also took this opportunity to announce that it was increasing its Bitcoin holdings. As of the conference, LQwD spent a total of C$9.2 million (US$7.17 million) to purchase 150 Bitcoins, with an average cost of approximately C$61,000 (US$48,000) per Bitcoin. This purchase further strengthens the company’s strategic growth initiative to accumulate Bitcoin as a reserve asset.
For more information, visit the company’s website at www.LQwDFinTech.com.
NOTE TO INVESTORS: The latest news and updates relating to LQWDF are available in the company’s newsroom at https://ibn.fm/LQWDF
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