LQwD FinTech Corp. (TSX.V: LQWD) (OTCQB: LQWDF) Secures CAD $8 Million Financing to Continue Expanding Proprietary Lightning Network PaaS
-The company also secured an investment by BIGG Digital Assets, Inc., a seasoned investor in cryptocurrency future and owner of an already impressive portfolio of companies and minority investments in that field
-The Lightning Network is scalable, global, open, inclusive, permissionless, and decentralized, and uses nodes that are connected through multiple channels that enable off-chain, instantaneous, and cheap payments at scale
-LQwD’s platform makes it easy for businesses, exchanges, and investors, to use the Lightning Network, which offers a viable solution for scaling bitcoin for global microtransactions, designed to reduce transaction fees and improve settlement times
-The network’s current capacity is estimated at over CAD $246.3 million (USD $198 million), with an average node capacity of approximately CAD $13,680 (USD $11,000), and over 29,000 nodes currently active
Financial tech and digital payment company LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF) announced that it secured CAD $8 million (USD $6.4 million) in financing to fund the future expansion of its proprietary Lightning Network Platform, to acquire additional bitcoin as an operating and reserve asset and to cover general corporate and working capital purposes (https://nnw.fm/4ZdXJ).
More specifically, the company closed a previously announced offering of 20 million units at a price of CAD $0.35 (USD $0.28) each with gross proceeds of CAD $7 million (USD $5.6 million). An additional CAD $1,050,000 (USD $845,000) was obtained as a result of the offering’s underwriters, a syndicate led by Canaccord Genuity Corp. and including PI Financial Corp., exercising their over-allotment option and purchasing an additional 3 million units.
The financing included LQwD joining the investment portfolio of BIGG Digital Assets Inc. (CSE: BIGG) (OTCQX: BBKCF) (WKN: A2PS9W), a major investor and supporter of cryptocurrency solutions and widespread adoption, following the latter’s investment into the company and its proprietary Lightning Network. BIGG invested CAD $100,000 (USD $80,360) in LQwD, adding it to other recent strategic investments such as WonderFi ($WONDF) and ZenLedger (https://nnw.fm/zFb9N).
BIGG already owns Netcoins, one of Canada’s leading online cryptocurrency brokerages that makes it easy to buy, sell, and understand cryptocurrency, as well as Blockchain Intelligence Group, a leading developer of blockchain technology search, risk-scoring, and data analytics solutions.
“As the crypto market continues to mature and evolve, we believe companies like LQwD will help lead the way in infrastructure and plumbing for crypto payments,” BIGG CEO Mark Binns stated. “Our investment in LQwD shows our support for an established group of entrepreneurs and our continued leadership in the cryptocurrency sector.”
Moreover, LQwD entered a strategic services agreement with Netcoins that enables the BIGG company to establish a node on the Lightning Network in what is the first institutional grade Lightning payment channel for both Netcoins and BIGG (https://nnw.fm/Ji9lE). Under the agreement, Netcoins will also serve as preferred liquidity provider for LQwD’s virtual currency platform, Coincurve.com, while Blockchain Intelligence Group will provide Coincurve and the Lightning Network with institutional and government grade compliance software.
LQwD’s Lightning Network platform-as-a-service allows users to leverage the lightning network infrastructure to send payments instantly, securely, and inexpensively worldwide. The network comprises nodes connected through payment channels, enabling off-chain, instantaneous, and cheap payments at scale. The current Lightning Network capacity is valued at over CAD $246.3 million (USD $198 million), with an average node capacity of approximately CAD $13,680 (USD $11,000) and over 29,000 nodes currently active (https://nnw.fm/xga5E). These nodes can be monitored and managed with little to no technical expertise required through LQwD’s platform.
The Lightning Network was designed as a viable solution for massively scaling bitcoin for global microtransactions. The network dramatically improves on fees and provides instant settlement times. LQwD’s proprietary platform allows users to easily tap into the Lighting Network which offers scalable, global, open, inclusive, permissionless, and decentralized Bitcoin transactions. The network is already built, functioning, and growing, and LQwD sees it as an enabling technology that will bring bitcoin to hundreds of millions of new users worldwide. Even well-known companies such as Twitter and Square have expressed an interest in and enthusiasm about incorporating the Lightning Network into their platforms.
By further expanding its lightning Network platform, LQwD can successfully tap into multiple opportunities of the booming cryptocurrency market, which has been growing steadily worldwide over the last few years. The global market was valued at CAD $1.85 billion (USD $1.49 billion) in 2020 and is anticipated to reach CAD $6.14 billion (USD $4.94 billion) by 2030, growing at a CAGR of 12.8% (https://nnw.fm/MFZwj).
For more information, visit the company’s website at www.LQwDFinTech.com.
NOTE TO INVESTORS: The latest news and updates relating to LQWDF are available in the company’s newsroom at https://nnw.fm/LQWDF
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
-The company also secured an investment by BIGG Digital Assets, Inc., a seasoned investor in cryptocurrency future and owner of an already impressive portfolio of companies and minority investments in that field
-The Lightning Network is scalable, global, open, inclusive, permissionless, and decentralized, and uses nodes that are connected through multiple channels that enable off-chain, instantaneous, and cheap payments at scale
-LQwD’s platform makes it easy for businesses, exchanges, and investors, to use the Lightning Network, which offers a viable solution for scaling bitcoin for global microtransactions, designed to reduce transaction fees and improve settlement times
-The network’s current capacity is estimated at over CAD $246.3 million (USD $198 million), with an average node capacity of approximately CAD $13,680 (USD $11,000), and over 29,000 nodes currently active
Financial tech and digital payment company LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF) announced that it secured CAD $8 million (USD $6.4 million) in financing to fund the future expansion of its proprietary Lightning Network Platform, to acquire additional bitcoin as an operating and reserve asset and to cover general corporate and working capital purposes (https://nnw.fm/4ZdXJ).
More specifically, the company closed a previously announced offering of 20 million units at a price of CAD $0.35 (USD $0.28) each with gross proceeds of CAD $7 million (USD $5.6 million). An additional CAD $1,050,000 (USD $845,000) was obtained as a result of the offering’s underwriters, a syndicate led by Canaccord Genuity Corp. and including PI Financial Corp., exercising their over-allotment option and purchasing an additional 3 million units.
The financing included LQwD joining the investment portfolio of BIGG Digital Assets Inc. (CSE: BIGG) (OTCQX: BBKCF) (WKN: A2PS9W), a major investor and supporter of cryptocurrency solutions and widespread adoption, following the latter’s investment into the company and its proprietary Lightning Network. BIGG invested CAD $100,000 (USD $80,360) in LQwD, adding it to other recent strategic investments such as WonderFi ($WONDF) and ZenLedger (https://nnw.fm/zFb9N).
BIGG already owns Netcoins, one of Canada’s leading online cryptocurrency brokerages that makes it easy to buy, sell, and understand cryptocurrency, as well as Blockchain Intelligence Group, a leading developer of blockchain technology search, risk-scoring, and data analytics solutions.
“As the crypto market continues to mature and evolve, we believe companies like LQwD will help lead the way in infrastructure and plumbing for crypto payments,” BIGG CEO Mark Binns stated. “Our investment in LQwD shows our support for an established group of entrepreneurs and our continued leadership in the cryptocurrency sector.”
Moreover, LQwD entered a strategic services agreement with Netcoins that enables the BIGG company to establish a node on the Lightning Network in what is the first institutional grade Lightning payment channel for both Netcoins and BIGG (https://nnw.fm/Ji9lE). Under the agreement, Netcoins will also serve as preferred liquidity provider for LQwD’s virtual currency platform, Coincurve.com, while Blockchain Intelligence Group will provide Coincurve and the Lightning Network with institutional and government grade compliance software.
LQwD’s Lightning Network platform-as-a-service allows users to leverage the lightning network infrastructure to send payments instantly, securely, and inexpensively worldwide. The network comprises nodes connected through payment channels, enabling off-chain, instantaneous, and cheap payments at scale. The current Lightning Network capacity is valued at over CAD $246.3 million (USD $198 million), with an average node capacity of approximately CAD $13,680 (USD $11,000) and over 29,000 nodes currently active (https://nnw.fm/xga5E). These nodes can be monitored and managed with little to no technical expertise required through LQwD’s platform.
The Lightning Network was designed as a viable solution for massively scaling bitcoin for global microtransactions. The network dramatically improves on fees and provides instant settlement times. LQwD’s proprietary platform allows users to easily tap into the Lighting Network which offers scalable, global, open, inclusive, permissionless, and decentralized Bitcoin transactions. The network is already built, functioning, and growing, and LQwD sees it as an enabling technology that will bring bitcoin to hundreds of millions of new users worldwide. Even well-known companies such as Twitter and Square have expressed an interest in and enthusiasm about incorporating the Lightning Network into their platforms.
By further expanding its lightning Network platform, LQwD can successfully tap into multiple opportunities of the booming cryptocurrency market, which has been growing steadily worldwide over the last few years. The global market was valued at CAD $1.85 billion (USD $1.49 billion) in 2020 and is anticipated to reach CAD $6.14 billion (USD $4.94 billion) by 2030, growing at a CAGR of 12.8% (https://nnw.fm/MFZwj).
For more information, visit the company’s website at www.LQwDFinTech.com.
NOTE TO INVESTORS: The latest news and updates relating to LQWDF are available in the company’s newsroom at https://nnw.fm/LQWDF
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
