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CashApp adds support for Bitcoin Lightning Network

Cryptocurrency Oct 25, 2022 02:20PM ET
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CashApp adds support for Bitcoin Lightning Network
 
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According to a new page added to its support section on Oct. 25, Cash App — a mobile phone payment processing app created by Block Inc. — has added support for transactions via the Bitcoin Lightning Network. The new feature allows Cash App users to send and receive Bitcoin (BTC) on the faster, more efficient layer-2 protocol. Lightning is ideal for small transactions, with near-instant processing times, compared with the minutes to hours required on the Bitcoin blockchain.

Cash App had already supported Bitcoin transactions on the Lightning Network in a limited capacity, with users limited to paying for invoices via scanning Lightning QR codes. Now, all Cash App transactions involving QR codes will default through Lightning unless otherwise specified. This new feature has a transaction limit of $999 every seven days and is only available to United States customers, excluding residents of New York state.

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CashApp adds support for Bitcoin Lightning Network
 

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Comments (1)
Norah Henry
Norah Henry Oct 26, 2022 1:25AM ET
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