Bitfinex Partners with Bitrefill to Integrate Instant Bitcoin Payments Via the Lightning Network

Bitfinex Exchange users will now be able to pay for a whole range of services using the Bitrefill crypto gift cards. The two have partnered to increase their market share and encourage the use of cryptocurrencies in making payments through the lightning network.

A press release on December 4th highlighted the services one could leverage from participating within the Bitfinex and Bitrefill ecosystem.

Notably was the number of services available; Bitrefill’s crypto gift cards come with an option of over 2000 catalogs. These are based on consumables like entertainment, dining, travel and the crypto compatible gaming space.

The B2B Bitfinex-Bitrefill Ecosystem

This FinTech innovation will most likely disrupt existing relationships between business owners and their clients.

Basically, once users have done their payments through the Bitfinex and Bitrefill, the two crypto-oriented firms will in turn settle the request via lightning network. Just recently, Bitfinex announced that they had integrated BTC to the lightning network; it is therefore no surprise that the pioneer digital currency for this ecosystem is Bitcoin.

John Carvalho, Bitrefill’s Chief Communications officer, noted that the move will steer Bitcoin and Lightning network to new levels of applicability and adoption;

“This collaboration signals a new era for Bitcoin commerce. We will continue to work closely with Bitfinex and other businesses to develop Lightning solutions and products that make living on crypto a reality, eventually removing dependability on fiat rails,”

Bitrefill Partnerships with Crypto Exchanges

The crypto payment solution provider is still at its early phase of product implementation. So far, the firm has only partnered with Bitfinex exchange although plans are underway for expansion once the BTC gift cards run smoothly via Bitfinex.

Carvalho however said that Bitrefill is looking to work with other stakeholders in blockchain and crypto as well; this will be majorly done in 2020 as they on-ramp more users to their services and lightning network.

Bitfinex is currently working to scale up the portfolio of digital currencies within the lightning network. After the BTC integration, the firm is now looking to include the likes of Tether Gold and Tether (USDT) which are both stablecoins.

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Lujan Odera
Lujan Odera
Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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