• Days
  • Hours
  • Mins
  • Secs
  • Sun, 20 Oct 2019, 04:12 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Lightning network development startup ACINQ secures $8M from Idinvest, Bpifrance, Serena

Wed, 09 Oct 2019, 08:22 am UTC

ACINQ, one of the three main Lightning Network development firms, has secured $8 million in a Series A led by Idinvest Partners, with participation from Serena and Bpifrance, state-owned French investment firm.

As per a release, the funding will be used to expand its team, enhance the Lightning protocol, and grow its business. Currently, the startup has raised a total of $10 million in venture funding.

In its 2015 white paper, ACINQ described Lightning Network as an open payment network that brings VISA-scale scalability to Bitcoin. It offers unlimited throughput, instant payments, and low fees while maintaining “trustlessness and censorship-resistance properties.” ACINQ is popularly known for Éclair Mobile, the most famous Lightning wallet in the world.

Bitcoin is set to become the currency of the digital era, but its story is just beginning. Lightning will allow it to move to a new dimension and become universal. ACINQ’s team includes some of the best Lightning experts in the world. They have all the skills and knowledge needed to build this new payment infrastructure. We’re very happy to help support ACINQ’s growth,” Nicolas Debock, Idinvest Partners’ Managing Director, said.

Meanwhile, Veronique Jacq of Bpifrance told CoinDesk that bitcoin is starting to become a staple of the global economy. The latest move marks the financial institution’s first investment in a crypto startup.

The lightning network will be where high volumes of transactions could develop in the future, so we wanted to be there, with the infrastructure that will enable these transactions,” she said.

Meanwhile, another independent startup that lets people use Bitcoin Lightning Network, Fold App, has secured $2.5 million and added a fiat currency payment option.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $7,960.16 (-0.08%)
  • Ethereum (ETH) $171.40 (-1.49%)
  • XRP (XRP) $0.288200 (-1.71%)
  • Bitcoin Cash (BCH) $212.97 (-0.64%)
  • Litecoin (LTC) $53.53 (+0.24%)
  • Bitcoin (BTC) $7,960.16 (-0.08%)
Oct 18, 2019 (Friday)
12:51
Telegram’s claim “Grams will not be security once TON Blockchain launches” is insufficient, argues SEC
11:51
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:51
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:23
US Senator comes out in support of Facebook’s crypto, finds hostility towards Libra “puzzling”
10:38
Crypto Technicals: BCH/USD tests trendline support (209), dip till 78.6% Fib (168.35) likely
10:13
IBM, Raw Seafoods partner to digitize scallops supply chain using blockchain
08:48
India’s Reliance Industries reveals blockchain plans for Bill of Lading and Letter of Credit transactions
07:48
Crypto Technicals: Ripple (XRP) erases most of previous session's gains, retrace below cloud dents further upside
07:22
Crypto exchange Upbit operator Dunamu to launch OTC trading platform for unlisted securities
06:52
Crypto Technicals: ETH/USD fails to extend recovery, resumes weakness, 167.50 (Oct 6 low) in sight
06:22
Stablecoin initiatives highlight shortcomings in cross-border payments: G7 Working Group
06:11
Crypto Technicals: LTC/USD extends choppy trade below 21-EMA, bias bearish
05:02
Crypto Technicals: BTC/USD confined to narrow range, bias bearish below 5-DMA (8132)
04:48
Telegram calls SEC’s emergency injunction “unreasonable”, argues gram tokens are not securities
Oct 17, 2019 (Thursday)
13:38
Bermuda to develop blockchain-based national ID system with Shyft and Perseid Network
12:52
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:48
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:59
Samsung SDS partners with Tech Mahindra and Pega to launch blockchain-based traceability solution
11:13
Telegram proposes to postpone TON blockchain project launch to April 2020, seeks investors’ consent
10:41
Crypto Technicals: TRON (TRX) resumes weakness, break below 20-DMA could see fresh multi-month lows
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft