Elizabeth Stark, CEO of Lightning Labs, announced that tokenized assets, such as stablecoins, are poised to join the lightning network (LN), Bitcoin's layer two scaling protocol. Stark emphasized the transformative potential of this development, highlighting its ability to enable users to conduct stablecoin payments using the cost-effective LN transaction fees.

CEO Elizabeth Stark: Lightning Network to Incorporate Stablecoins and Tokenized Assets

The lightning network (LN), Bitcoin's scaling layer, is undergoing expansion to include additional functionalities. Elizabeth Stark, CEO of Lightning Labs, revealed that the technical groundwork for introducing stablecoins and tokenized assets on the LN was already in progress.

Lightning Labs recently showcased the first asset transaction on LN, with its CTO Olaoluwa Osuntokun initiating and executing the transaction of "beefbux," the inaugural tokenized asset issued on the LN. The introduction of these assets on LN presents more options for users seeking to avoid Bitcoin's price volatility while benefiting from the security of the Bitcoin network.

Speaking at the recent FT Live's Crypto and Digital Assets Summit in London, Stark emphasized the significance of crypto assets, including bitcoin and stablecoins, particularly for individuals in economically challenged countries seeking a stable store of value. She acknowledged that users in such scenarios are not solely relying on bitcoin but are also incorporating stablecoins into their financial strategies.

Stark also underscored the payment utility of these assets on the LN, noting that the low fees make it competitive with existing payment systems. She stated:

"In comparison to traditional systems like Visa, where fees in the U.S. can be as high as 3%, the cost of transacting stablecoins on the Lightning Network can be dramatically lower, often just a cent or less."

Additionally, Stark revealed that Lightning Labs is developing infrastructure to enable institutions to utilize LN for issuing tokenized assets, such as gold or fiat-backed instruments. However, she did not provide further details on this initiative.

What are your thoughts on the integration of tokenized assets, including stablecoins, into Bitcoin's lightning network? Share your opinions in the commentsElizabeth Stark, CEO of Lightning Labs, announced that tokenized assets, such as stablecoins, are poised to join the lightning network (LN), Bitcoin's layer two scaling protocol. Stark emphasized the transformative potential of this development, highlighting its ability to enable users to conduct stablecoin payments using the cost-effective LN transaction fees.

CEO Elizabeth Stark: Lightning Network to Incorporate Stablecoins and Tokenized Assets

The lightning network (LN), Bitcoin's scaling layer, is undergoing expansion to include additional functionalities. Elizabeth Stark, CEO of Lightning Labs, revealed that the technical groundwork for introducing stablecoins and tokenized assets on the LN was already in progress.

Lightning Labs recently showcased the first asset transaction on LN, with its CTO Olaoluwa Osuntokun initiating and executing the transaction of "beefbux," the inaugural tokenized asset issued on the LN. The introduction of these assets on LN presents more options for users seeking to avoid Bitcoin's price volatility while benefiting from the security of the Bitcoin network.

Speaking at the recent FT Live's Crypto and Digital Assets Summit in London, Stark emphasized the significance of crypto assets, including bitcoin and stablecoins, particularly for individuals in economically challenged countries seeking a stable store of value. She acknowledged that users in such scenarios are not solely relying on bitcoin but are also incorporating stablecoins into their financial strategies.

Stark also underscored the payment utility of these assets on the LN, noting that the low fees make it competitive with existing payment systems. She stated:

"In comparison to traditional systems like Visa, where fees in the U.S. can be as high as 3%, the cost of transacting stablecoins on the Lightning Network can be dramatically lower, often just a cent or less."

Additionally, Stark revealed that Lightning Labs is developing infrastructure to enable institutions to utilize LN for issuing tokenized assets, such as gold or fiat-backed instruments. However, she did not provide further details on this initiative.

What are your thoughts on the integration of tokenized assets, including stablecoins, into Bitcoin's lightning network? Share your opinions in the comments section below. section below.