TL;DR
- Revolut has added Bitcoin payments through the Lightning Network for users in the UK and countries within the European Economic Area.
- The integration with Lightspark enables near-instant transactions with low fees, without relying on Bitcoin’s main chain.
- The service will also include support for UMA addresses, allowing crypto transfers using email-style formats.
Revolut has strengthened its crypto offering by introducing Bitcoin payments through the Lightning Network.
The company signed an agreement with Lightspark to integrate its layer-2 network and offer almost instant, low-cost transactions to users in the UK and several countries in the European Economic Area. This update will allow Revolut to move beyond simple crypto trading and custody services, entering the realm of fast, blockchain-based money transfers.
The service will run on Lightspark’s infrastructure, which is designed to optimize Bitcoin payments without depending on the main chain. By operating through Lightning, transactions skip traditional confirmation times and cut down on fees, making transfers faster and more affordable. Emil Urmanshin, head of crypto at Revolut, said this integration will make global payments more efficient and accessible for the platform’s customers.
Revolut Will Add UMA Support
In addition to instant payments, the partnership will also introduce support for UMA (Universal Money Address), a system that lets users send funds through addresses similar to email accounts. This feature simplifies the sending process by removing the need for long, complex alphanumeric crypto addresses. Revolut indicated that the service would gradually expand to other regions as implementation progresses.
David Marcus, CEO of Lightspark, believes this partnership will help speed up the transition to a more modern and efficient financial system. He compared today’s traditional banking infrastructure to a dial-up internet connection in a world moving toward faster, more flexible networks like Lightning.
Revolut aims to diversify its services and compete with other firms specializing in low-cost international transfers. The company continues to explore practical applications of decentralized technologies, responding to the growing interest from fintech companies in solutions that lower costs and improve the speed of digital currency transactions.
