LQwD FinTech Corp., the technology company developing payment infrastructure for the Bitcoin Lightning Network (LN), has announced the deployment of routing nodes in both Germany and Singapore.
Establishing these nodes into these important financial hubs provides a gateway into the European and Asian payments processing frontier.
A routing node has a myriad of functions within the blockchain, and can facilitate different types of crypto payments within the region in which it’s installed. It routes and verifies transactions on both the blockchain and the LN, stores data, mines crypto and provides crypto wallet services.
Deploying nodes enables LQwD to collect transaction, routing and processing fees, as well as secure a strong foothold on the LN, positioning the company to participate in the significant global adoption now gathering momentum on the network.
The German and Singaporean routing nodes, secured by the company-owned Bitcoin, represent the first of numerous international nodes that the company plans to deploy in the coming months.
Since the launch of the LQwD’s first routing node, US-West, in November 2021, the node has experienced week-over-week growth with over 80 nodes now connected, establishing 84 new payment channels, and the company has collected transaction fees from the five Bitcoin that has been routed through these channels.
LQwD is confident that establishing international routing nodes into key countries such as Germany and Singapore show capability and proof of concept, paving the way for LQwD to become a prominent LN liquidity and global payment processer.
