Crypto Market News: In a major breakthrough for crypto market participants in Mexico, a top internet service provider integrate Bitcoin Lightning payments. The development comes just few days after Microstrategy founder Michael Saylor announced plans to leverage the Bitcoin Lightning Network in the corporate world. The tech company, which is the largest institutional Bitcoin holder, announced that it was planning to launch a product suite with a Bitcoin (BTC) wallet and a Lightning address to corporate accounts holders.
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The latest development in Mexico marks yet another move towards complete institutional adoption for the top cryptocurrency. The Bitcoin Lightning network is a layer 2 solution on top of the native blockchain. The Lightning network uses micropayment channels to leverage the native Bitcoin for performing transactions more efficiently and at lower costs.
Mexico Users Can Now Pay Internet Bills In BTC
On Thursday, Total Play, one of the top internet providers in the North American country, integrated the BTC Lightning based payments. The internet provider enabled a simple payments dashboard that asks user to chose between on chain Bitcoin payment and BTC Lightning payment. This could go on to be a significant development in the United States’ neighboring nation, as mainstream Bitcoin usage could further educate people on crypto use cases. According to the DB-IP, Total Play Telecommunications stands at rank 8 in the list of top 20 organizations with the largest IP allocations in Mexico.
BREAKING: 🇲🇽 One of Mexico’s largest internet providers Total Play integrated #Bitcoin Lightning payments 🙌 pic.twitter.com/DKqfHCQ0ie
— Bitcoin Magazine (@BitcoinMagazine) May 18, 2023
Meanwhile, the Lightning Network solution can be used as a stop gap measure in situations where on chain transactions are suspended due to technical difficulties. Recently, top crypto exchange Binance said it plans to enable BTC Lightning Network withdrawals to help in cases where on chain withdrawals come to a halt.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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