Nu Holdings (Nubank) and Lightspark have announced a partnership that will introduce blockchain-driven features and services to enhance the Nu app for 100 million customers. The report claimed that the partnership will enable Nubank to leverage Lightspark’s Bitcoin Lightning Network, promising faster, cost-effective, and more efficient experiences for Nubank’s Latin American customers.
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According to the report, the partnership indicated Nubank’s commitment to digital banking transformation. The Brazilian fintech bank expressed its dedication to staying at the top of the industry and providing its large customer base in Brazil, Mexico, and Colombia with the most innovative blockchain solutions.
Light sparks as Nubank joins the Bitcoin Lightning Network and UMA
The partnership with Lightspark, which has developed an excellent technical solution for the Bitcoin Lightning Network, is another step in Nubank’s mission to provide the best solutions for our clients and reinforce our long-term relationship with all of them. The future… https://t.co/iVvpaGtfzL
— Thomaz Fortes (@thomazlysafor) June 25, 2024
According to Thomaz Fortez, General Manager at Nubank Crypto and Digital Assets Executive Director, the partnership with Lightspark is expected to offer more efficient and faster services at lower costs and reinforce the company’s long-term relationships with all its customers.
The report emphasized that since Lightsparks will be heavily involved in optimizing and managing the large-scale Lightning Network’s implementation, the operations and products teams at Nubank will focus more on creating the best experiences for their customers without distractions.
“We’re excited to play a role in bringing Lightning to Nu’s 100 million customers and adding solutions to make their financial lives simpler and more efficient. At Lightspark, we’re delighted to enable Nubank to keep evolving their crypto solutions – it’s also been fantastic to work with the talented team at Nu.”
–David Marcus, CEO and co-founder of Lightspark
The report also revealed that Lightspark’s offer for an “enterprise-grade” entry point to the Lightning Network would be combined with the provision of Universal Money Addresses (UMA) protocols, which would reportedly give its customers email-like addresses to send and receive (crypto and fiat) money.
Nubank becomes a blockchain technology leader in Latin America
According to the report, Lightspark’s software and services would enable its growing number of demanding customers to reliably use the Lightning Network for (almost) real-time fiat and Bitcoin transactions.
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The Brazilian bank claimed that Lightspark’s AI solutions in blockchain technology would enable the free movement of transactions and create unmatched experiences for its customers.
“The future integration of Lightning underscores Nu’s ongoing mission to offer more efficient services with greater speed and lower costs through blockchain technology,”
-Thomaz Fortes, Executive Director of Nubank Cripto
However, the fintech bank revealed that “any new experiences and usability enhancements in the Nu app” resulting from Lightspark’s AI-based SDKs and API advancements would be “detailed and disclosed in due course.”
Cryptopolitan reporting by Collins J. Okoth