OpenNode is partnering with Lemon Cash to give Argentines access to the Bitcoins Lightning Network
Bitcoin payment infrastructure platform OpenNode has partnered with Lemon Cash, a popular provider of cryptocurrency wallets in Latin America.
Through the partnership, OpenNode will integrate Lightning Network into its wallet, providing access to fast and cheap Bitcoin transactions to its 1 million customers.
Josh Held, Strategy Manager at OpenNode, said:
“This partnership is another example of our ability and belief in Bitcoin as the new base layer for global payments … We are proud to support Lemon’s mission, the desire to scale and benefit customers, and ultimately the growth of Bitcoin. the economy of Latin America and beyond. “
Lemon Cash is considered to be the fastest growing crypto startup in Latin America. The company offers users a fiat-to-crypto exchange and cryptocurrency wallet and has attracted well over a million users in Argentina alone.
While Latin America has one of the highest cryptocurrency adoption rates in the world, Argentina stands out from most of its neighbors in terms of both the total number of users and the number of transactions processed.
Argentina’s cryptocurrency adoption is the result of more than just a fascination for new technology – the country’s soaring inflation and volatile financial system have forced its citizens to seek stability in cryptocurrencies. According to a recent report from Reuters, the rolling 12-month inflation rate reached 60% in May. The annual inflation rate is expected to peak at 70% by the end of the year.
Borja Martel Seward, co-founder of Lemon Cash, said the introduction of Lightning Network to customers will help the company make crypto more usable and accessible in Latin America. Earlier in March, Lemon Cash expanded to Brazil and announced plans to introduce a cryptocurrency card in 2022.
OpenNode has been working to expand the use cases for Lightning Network since 2017. Held said that merging with a platform as large as Lemon Cash will help it achieve its mission of creating a global payment system based on Bitcoin. He added that:
“This partnership is another example of our ability and belief in Bitcoin as the new base layer for global payments.”
