Bitfury Integration to Bring Bitcoin Lightning Payments to More Merchants
The Bitfury Group has partnered with business payments processor HadePay to bring lightning network-based bitcoin payments to merchants.
The Bitfury Group has partnered with business payments processor HadePay to bring lightning network-based bitcoin payments to merchants in the U.S., Canada and the EU.
Bitfury announced Thursday that it has integrated its web-based lightning network Peach Merchant API (application programming interface) with HadePay’s platform, allowing businesses to accept payments over the lightning network and "improving the efficiency and lowering the costs" of bitcoin transactions.
After payment is made, merchants can “immediately” convert bitcoins into another currency through HadePay's platform, Bitfury said.
“By bringing the Lightning Network to HadePay’s payment processing platform, we are making it easier for businesses across the United States to accept bitcoin payments,” said Pavel Prikhodko, head of Lightning Peach, Bitfury’s team of lightning network developers.
Bitcoin payments via HadePay are now available in all 50 U.S. states, Bitfury added.
HadePay runs on a hybrid model, processing both fiat and blockchain payments. The platform can also be used by merchants around the world to accept payments through PayPal, Apple Pay, Square and more.
HadePay CEO and founder Brian Nichols said:
It's worth noting that the lightning network, a second-layer scalability protocol that operates on top of the bitcoin blockchain, is still a beta project (several projects, actually) with some risks attached to its use. Its several iterations continue to develop and see support from the community, however.
Some big name firms and individuals have been supporting the technology in an ongoing experiment known as the Lightning Torch, with financial services giant Fidelity Investments, LinkedIn co-founder Reid Hoffman and Twitter and Square CEO Jack Dorsey all recently taking part.
Bitfury image via CoinDesk archives
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.