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New fully regulated Bitcoin exchange with lightning support launches in Europe

Fully regulated Bitcoin exchange with lightning support launched
Jordan
Major
1 year ago
2 mins read

A fully regulated bitcoin lightning-enabled cryptocurrency exchange has launched in Europe with operations globally. 

In a press statement, the exchange, Frontnode, indicates that users will leverage the native bitcoin lighting capabilities like instant transactions with no blockchain fees. 

Users joining the platform will undergo the KYC process with quick approvals. Notably, the exchange also focuses on instant bitcoin purchases alongside high security, lowering the chances of hacking

According to Jason Alexander, Frontnode’s CMO, bitcoin is a store of all value, and the exchange aims to facilitate the shift towards becoming a fully transactional cryptocurrency. 

“With our innovative adoption of Lightning, we hope to take Bitcoin one step closer to being fully transactional. Bitcoin is an excellent store of value, but its potential really lies in it becoming the preferred payment method for consumers everywhere,” said Alexander. 

Furthermore, Frontnode said the launch follows the recent surge in bitcoin’s value due to increased institutional entry. The crypto bull run resulted in an all-time high of $64 800 on April 14th. 

Rising Bitcoin Lightning Network adoption

Over the past year, several crypto exchanges have adopted the lightning network over the numerous advantages. The lightning network is cited as a ‘game-changer’ to support off-chain transactions and lower transaction fees.

Besides Frontnode, crypto exchange OKEx recently enabled support for Bitcoin’s Lightning Network. At the time, OKEx was the seventh leading cryptocurrency exchange to integrate the network.

Other exchanges to integrate the technology include OKCoin, Bitfinex, and River Financial. Elsewhere, Kraken is working to incorporate the technology later this year.

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Jordan Major
Author

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.

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