A significant stride towards comprehensive institutional adoption of Bitcoin was made recently in Mexico, with a leading internet service provider, Total Play, integrating Bitcoin Lightning payments. This comes hot on the heels of an announcement by Microstrategy founder Michael Saylor about his plans to utilize the Bitcoin Lightning Network in the corporate sector.
Bitcoin Lightning Network Makes Its Way into the Corporate World
Microstrategy, which holds the largest institutional Bitcoin portfolio, revealed its intent to introduce a suite of products consisting of a Bitcoin (BTC) wallet and a Lightning address targeted at corporate account holders. This suite is part of their ambition to incorporate the Bitcoin Lightning Network more fully into the corporate landscape.
Also Read: MicroStrategy’s Michael Saylor Integrates Lightning Network with Email
The Bitcoin Lightning network serves as a second layer solution atop the original blockchain. It harnesses micro-payment channels, which allow the native Bitcoin to carry out transactions more effectively and cost-efficiently.
Total Play Steps into the Future with Bitcoin Lightning Payments
In this recent development, Total Play, one of Mexico’s premier internet providers, has embraced BTC Lightning-based payments. Users are presented with a simplified payments interface that offers a choice between on-chain Bitcoin payments or BTC Lightning payments.
Total Play Telecommunications, ranked 8th among the top 20 organizations with the largest IP allocations in Mexico according to DB-IP, is pushing towards mainstream Bitcoin use. This move could potentially foster a broader understanding of crypto use cases among the populace.
Lightning Network as a Contingency Plan
The Lightning Network can serve as a contingency solution when on-chain transactions are disrupted due to technical issues. The major cryptocurrency exchange Binance, for instance, recently revealed its intention to enable BTC Lightning Network withdrawals to aid situations where on-chain withdrawals are interrupted.
