Block, formerly known as Square, is integrating the Lightning Network into its popular Cash App, a move first promised in 2019. The company said the feature should be available to all U.S. Cash App users, except those in New York State, in the coming weeks.
- The integration of the network will allow Cash app customers in the U.S. to send bitcoin for free within seconds to anybody in the world.
- The Lightning integration is made possible by the Lightning Development Kit created by Spiral, which is funded by Block.
- Cash App customers will also be able to send bitcoin to any compatible wallet that accepts Lightning Network payments, without being charged fees.
- Almost three years ago, Block CEO Jack Dorsey, who’s also an investor in Lightning Labs, said there were plans underway to integrate the scaling technology with Square’s Cash App.
- Since then, the Lightning Network has progressed significantly, with developers working to make the technology more usable for more people. The network received a boost from the November activation of Taproot, the biggest change to Bitcoin in four years, which allowed new privacy improvements to be made to Lightning.
- In November, Dorsey announced he would step down as the CEO of Twitter, but he remains the CEO of Block.
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