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BitGo Adds Lightning Network Support to Its Crypto-as-a-Service Offering

BitGo’s partnership with Voltage adds Lightning Network support for institutional clients, a move the source says could reduce Bitcoin transaction costs and settlement time for payment-focused use cases.

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Summary

BitGo has added Lightning Network support to its Crypto-as-a-Service offering through a partnership with Voltage, extending the feature to institutional clients. The source says the integration could accelerate institutional crypto adoption by reducing transaction costs and transaction time. Lightning Network is used to make Bitcoin payments faster and cheaper than relying solely on the main blockchain, which can improve Bitcoin’s practicality for payment-related use cases.

Terms & Concepts
  • Lightning Network: A Bitcoin scaling network that processes payments off the main blockchain to enable faster settlement and lower transaction costs.
  • Crypto-as-a-Service: A business model that lets companies integrate crypto functions such as custody, payments, or trading through a service provider instead of building their own infrastructure.
  • institutional clients: Large organizations such as funds, banks, or companies that use financial infrastructure and services at scale rather than as individual retail users.