Revolut Adds Lightning Network Support for Bitcoin Payments
Date: 2025-05-09 Author: Oliver Abernathy Categories: BUSINESS
Fintech company Revolut has expanded the capabilities of its customers by implementing support for the Lightning Network micropayments network. The innovation allows users to make instant and low-cost Bitcoin transactions. The project was implemented with the participation of Lightspark, a company founded by David Marcus.
In addition, Revolut offered access to a new system called MoneyGrid. This is a Lightning Network-based service that provides efficient payment routing. It is designed for both individuals and businesses, simplifying cross-border transfers. According to Lightspark, MoneyGrid unites over 300 million users worldwide, covering more than 140 countries.
Revolut is not the first company to implement the Lightning Network. Previously, such major players as Coinbase, Binance, Bitfinex, Kraken, OKX and BitMEX began to use similar technology. Also in 2023, Lightspark helped Xapo Bank launch a LN payments service. This gave Xapo customers the opportunity to pay for goods and services in bitcoins in the amount of up to $ 100.
In addition to technological innovations, Revolut has achieved impressive financial results. According to the results of 2024, the company showed a record pre-tax profit of £ 1.09 billion ($ 1.4 billion), which is 149% more than a year earlier. The key driver of growth was the activation of the wealth management direction, whose revenue increased almost fourfold - to $ 647 million. This figure includes revenue from operations with cryptocurrencies, trading products, precious metals and savings solutions.
The Financial Times also reported that Revolut is currently considering the possibility of launching its own stablecoin. This move could further strengthen the company's position in the crypto market and expand the range of products offered.
