Bitwage processes the world’s first Lightning payroll

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Bitwage processed the world’s first Lightning payroll. The company processed a salary payment entirely on the Lightning Network, Bitcoin’s Layer 2 scaling solution for fast and cheap bitcoin payments.

“Bitcoin’s Lightning Network promises the ability to enable instant global payments for almost no fees,” Bitwage said in a statement to Bitcoin Magazine. “Our vision for Lightning Payroll is where any user can add whatever wallet they want, receive their paycheck, and spend it immediately through any merchant that’s connected to the mainnet. “

The company treated two salaries as Lightning payments. The first went to CEO of pan-African fintech company Bitnob, Bernard Parah, and the second, to USL professional footballer Alex Crognale.

“The concept of flash payroll means I can get paid by the hour or even by the minute,” Parah said in a statement. “Time is money, that’s all.”

Bitwage has partnered with ACINQ, a French startup dedicated to building native Bitcoin products and services, to help Parah secure enough incoming cash. ACINQ took advantage of its large Lightning node to ensure the transaction was processed correctly.

“As the network matures and its capacity increases, it becomes suitable for larger and larger transaction amounts, as Bitwage demonstrated by paying a salary on Lightning,” said the CEO of ACINQ, Pierre-Marrie Padiou, in a press release.

The second payroll payment made Crognale the first professional athlete to be fully paid through Lightning. The Birmingham Legion defender of the United Soccer League used the Wallet of Satoshi, a Guard Lightning wallet, to receive his payout.

“Getting paid in bitcoin brings the benefits of strong currency to everyone, and we look forward to seeing many more people using this fast, convenient and inexpensive payroll method,” said Daniel Alexiuc, CEO of Wallet of . Satoshi.

While ACINQ and Wallet of Satoshi assisted the receivers in the payroll transaction, Bitwage was assisted by Voltage on the sending side. Node provider Lightning made the process easier with a dedicated node for paying wages.

“All boats go up in this situation,” Graham Krizek, CEO of Voltage, said in a statement. “Bitwage customers benefit from a solid Lightning experience and Bitwage can quickly evolve their offering. “

Bitwage is a leading bitcoin payroll service provider headquartered in San Francisco, California. In addition to the United States, the company is present in Europe, Latin America and Asia. Bitwage offers services to employers, employees and the self-employed around the world.

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