{"id":558595,"date":"2023-03-02T17:14:02","date_gmt":"2023-03-02T14:14:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/xapo-bank-enables-faster-bitcoin-payments-with-lightning-network\/"},"modified":"2023-03-02T17:14:02","modified_gmt":"2023-03-02T14:14:02","slug":"xapo-bank-enables-faster-bitcoin-payments-with-lightning-network","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/xapo-bank-enables-faster-bitcoin-payments-with-lightning-network\/","title":{"rendered":"# Xapo Bank enables faster Bitcoin payments with Lightning Network"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a33bd5c2a937\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a33bd5c2a937\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/xapo-bank-enables-faster-bitcoin-payments-with-lightning-network\/#%E2%80%9D_Xapo_Bank_enables_faster_Bitcoin_payments_with_Lightning_Network_%E2%80%9C\" >&#8221; Xapo Bank enables faster Bitcoin payments with Lightning Network &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Xapo_Bank_enables_faster_Bitcoin_payments_with_Lightning_Network_%E2%80%9C\"><\/span>&#8221; Xapo Bank enables faster Bitcoin payments with Lightning Network &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-48054ca8>Xapo Bank, an international private bank headquartered in Gibraltar, integrates the Lightning Network\u00a0to improve its Bitcoin (BTC) capabilities.<\/p>\n<p>On March 2, Xapo officially announced a partnership with the Lightning Network infrastructure platform Lightspark, which allowed the firm to implement Lightning on its platform.<\/p>\n<p>The integration enables faster and cheaper transactions on Xapo, reducing blockchain confirmation waiting times and transaction fees on the original Bitcoin network.<\/p>\n<p>According to the firm, Xapo Bank members will now be able to instantly pay for small purchases of up to $100 at any vendor accepting Lightning payments. High-volume transactions are initially not supported with the integration.<\/p>\n<p>The new integration was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/apps.apple.com\/us\/app\/xapo-bank-save-in-btc-usd\/id1560681080\">introduced<\/a> on Feb. 27 as part of a new update for Xapo bank\u2019s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>s on the Apple Store and Google Store.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/8d71cea2-2173-4e49-af72-e02d82887748.png\"><figcaption style=\"text-align: center;\"><em>Lightning Network transactions on Xapo via Lightspark<\/em><\/figcaption><\/figure>\n<p>According to Xapo Bank CEO Seamus Rocca, Bitcoin\u2019s transaction confirmation can take up to one hour during periods of high usage, which makes BTC unsuitable for small daily payments like groceries. By integrating the Lightning Network, Xapo allows its customers to pay using Bitcoin without having to convert it to the U.S. dollar, he said.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bitcoin node connection shuts down: BlueWallet users urged to withdraw funds<\/em><\/strong><\/p>\n<p>Bitcoin average confirmation time has seen a huge spike in mid-February amid a massive activity on the Bitcoin network, with the mempool size reaching November 2022 levels. According to data from Ycharts, BTC confirmation time <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ycharts.com\/indicators\/bitcoin_average_confirmation_time#:~:text=Bitcoin%20Average%20Confirmation%20Time%20is,12.60%25%20from%20one%20year%20ago.\">hit<\/a> nearly 600 minutes on Feb. 19.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/7a9a5e26-adbb-4900-ac0a-32bd9f9e93c8.png\"><figcaption style=\"text-align: center;\"><em>Source: Ycharts<\/em><\/figcaption><\/figure>\n<p>Rocca also noted that Bitcoin payments are especially crucial during times of hyperinflation, economic uncertainty and political turmoil.<\/p>\n<p>Founded in 2013, Xapo operates a private bank as well as a Bitcoin custodian and wallet <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fsc.gi\/regulated-entity\/xapo-bank-limited-23171\">regulated<\/a> by the Gibraltar Financial Services Commission. The company is known for combining traditional banking with crypto by offering USD and BTC accounts in one place.<\/p>\n<p>Xapo <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.xapobank.com\/blog\/xapo-bank-from-the-fort-knox-of-bitcoin-to-the-worlds-first-crypto-private-bank\">claims<\/a> that at the peak of its Bitcoin custodianship, the firm held more than 800,000 BTC ($18.7 billion) for family offices, funds and high net-worth individuals. Such an amount of Bitcoin is more than 4% of the entire number of all BTC in circulation.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/xapo-bank-enables-faster-bitcoin-payments-with-lightning-network\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Xapo Bank enables faster Bitcoin payments with Lightning Network &#8220; Xapo Bank, an international private bank headquartered in Gibraltar, integrates the Lightning Network\u00a0to improve its Bitcoin (BTC) capabilities. On March 2, Xapo officially announced a partnership with the Lightning Network infrastructure platform Lightspark, which allowed the firm to implement Lightning on its platform. The&#8230;<\/p>\n","protected":false},"author":1,"featured_media":558596,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/3476172a-e90b-41dd-adea-7d4d2a8ae943.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,75029,74880,110964,117,72927],"class_list":["post-558595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-lightning-network","tag-transactions","tag-xapo","tag-business","tag-fees"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/558595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=558595"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/558595\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/558596"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=558595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=558595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=558595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}