- LQWD Technologies Corp. partners with Amboss Technologies as a premiere institutional Lightning Network Liquidity service provider.
- Amboss offers specialized data analytics and products for the Bitcoin Lightning Network, including Magma and Hydro for market organization and liquidity automation.
- LQWD to contribute an initial 10 Bitcoin in liquidity, with plans to deploy more throughout the partnership.
- LQWD's services include providing liquidity and earning fees for routing transactions on the Lightning Network.
- CEO Shone Anstey emphasizes the partnership's role in deploying company-owned Bitcoin to capture transaction volume and yield, while maintaining full control and custody.
VANCOUVER, BC / ACCESSWIRE / March 19, 2024 / LQWD Technologies Corp., (TSXV:LQWD, OTCQB:LQWDF) a leading infrastructure and liquidity provider for the Bitcoin Lightning Network, as well as a holder of Bitcoin as an operational asset, is pleased to announce its partnership as a premiere Lightning Network liquidity service provider (LSP) for Amboss Technologies Inc.("Amboss").
"Partnering with LQWD ensures that Amboss's global customers have direct access to institutional-grade liquidity for Bitcoin payments, allowing LQWD to generate additional yield through their nodes on the Lightning Network. Additionally, this partnership increases the supply side of Amboss's liquidity marketplace, enabling LQWD to fulfill the market demand for Lightning Network liquidity" stated Jesse Shrader, Co-Founder and CEO of Amboss.
Amboss specializes in providing data analytics solutions specifically tailored for the Bitcoin Lightning Network and offers products to create an orderly market on the Lightning Network through Magma and Hydro that provisions lightning liquidity. Magma serves as a liquidity marketplace for the Bitcoin Lightning Network, while Hydro delivers advanced liquidity automation to attain seamless Lightning Network payments.
With the escalating demand for both Amboss products, LQWD is positioned to play a pivotal role as a key institutional liquidity provider. As part of this partnership, LQWD will launch an initial tranche of 10 Bitcoin worth of liquidity to Amboss and deploy additional Bitcoin throughout the partnership. Amboss clients will acquire this liquidity from LQWD, with the latter retaining an initial fee and an additional fee for routing transactions over the Lightning Network.
Shone Anstey, Chief Executive Officer of LQWD, states, "This partnership enables LQWD to deploy more of our company-owned Bitcoin while potentially capturing significant transaction volume and generating yield on our Bitcoin holdings. Importantly, we maintain full sovereignty and custody throughout the process. This strategic alliance signifies a significant step forward for both LQWD and Amboss, as we work together to enhance liquidity and efficiency within the Bitcoin Lightning Network ecosystem."
About Lightning Network
Bitcoin Lightning Network is a payment layer for the internet. LN leverages the power of Bitcoin's supreme trust protocol, which facilitates instant peer-to-peer transaction faster than any other payment rail. It is reported that LN activity has increased by 1,200% over the past two years with participants such as MicroStrategy (MSTR) driving adoption and developing enterprise grade LN tools for business, taking advantage of the unmatched capability of the network.
Most recently, LN announced the integration of stable coin transaction capability, which opens LN to a much wider user base. Furthermore, many of the world's top cryptocurrency exchanges are integrating LN into their platforms as well as forward-thinking global business as LN transacts dramatically faster and cheaper than current payment rails such as Visa and Mastercard.
About LQWD Technologies
LQWD is a Bitcoin Lightning Network liquidity provider focused on developing payment infrastructure and solutions accelerating the global mega trend of Bitcoin adoption through the Lightning Network. LQWD also owns Bitcoin that is used as an operating asset establishing nodes and payment channels on the Lightning Network.
About Amboss Technologies
Amboss is a leading provider of payments operations for the Bitcoin Lightning Network, using machine learning to offer optimized routing and tools that redefine decentralized finance. Amboss supports businesses and consumers in improving connections and payment routes based on cost, reliability, or reputation as well as enterprise-grade risk management. Amboss operates Magma, the leading marketplace for lightning liquidity and non-custodial yield.
For further information:
Ashley Garnot, Director
Phone: 1.604.669.0912
Email: ashley@lqwd.money
Website: www.lqwdtech.com
Twitter: @LQWDTech
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company's business plans and the outlook of the Company's industry. Although the Company believes, considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: LQWD Technologies
View the original press release on accesswire.com
