Lightspark's UMA Extend Facilitates Lightning Network Integration with Traditional Financial Systems

UMA Extend de Lightspark facilita la integración de Lightning Network con sistemas financieros tradicionales

Lightspark, a financial services provider specializing in Bitcoin's Lightning Network (LN), has unveiled UMA Extend, a feature designed to enhance the integration of cryptocurrency with traditional financial systems in the United States. UMA Extend enables businesses to connect their operations directly to bank accounts, allowing for the instant receipt of LN payments that are settled in U.S. dollars.

Lightspark, un proveedor de servicios financieros especializado en Lightning Network (LN) de Bitcoin, ha presentado UMA Extend, una función diseñada para mejorar la integración de las criptomonedas con los sistemas financieros tradicionales en los Estados Unidos. UMA Extend permite a las empresas conectar sus operaciones directamente a cuentas bancarias, lo que permite la recepción instantánea de pagos de LN liquidados en dólares estadounidenses.

Expanding Legacy Financial Systems with Lightning Network

Ampliando los sistemas financieros heredados con Lightning Network

Cryptocurrency companies are increasingly working to merge decentralized finance with traditional banking infrastructure. Lightspark, which focuses on delivering products based on the Lightning Network, has taken a significant step in this direction by launching UMA Extend. This new solution allows for the settlement of Lightning Network payments directly into U.S. bank accounts, thereby broadening the potential user base of LN technology.

Las empresas de criptomonedas trabajan cada vez más para fusionar las finanzas descentralizadas con la infraestructura bancaria tradicional. Lightspark, que se centra en ofrecer productos basados ​​en Lightning Network, ha dado un paso importante en esta dirección con el lanzamiento de UMA Extend. Esta nueva solución permite la liquidación de pagos de Lightning Network directamente en cuentas bancarias de EE. UU., ampliando así la base de usuarios potenciales de la tecnología LN.

Unified Money Addresses and Real-Time Settlements

Direcciones de dinero unificadas y liquidaciones en tiempo real

The UMA Extend feature builds upon the Unified Money Addresses (UMA) protocol, which Lightspark introduced as an open-source project in October. This protocol enables users to have unique, email-like addresses for sending and receiving payments. The new feature, Extend, connects this protocol to what Lightspark describes as “eligible recipients.” Although the company did not specify the criteria for eligibility, it assured that the system is compatible with over 99% of U.S. banks that accept real-time payments.

La función UMA Extend se basa en el protocolo Unified Money Addresses (UMA), que Lightspark presentó como un proyecto de código abierto en octubre. Este protocolo permite a los usuarios tener direcciones únicas similares a las de correo electrónico para enviar y recibir pagos. La nueva función, Extend, conecta este protocolo con lo que Lightspark describe como "destinatarios elegibles". Aunque la empresa no especificó los criterios de elegibilidad, aseguró que el sistema es compatible con más del 99% de los bancos estadounidenses que aceptan pagos en tiempo real.

Demonstrating the Capabilities of UMA Extend

Demostrando las capacidades de UMA Extend

David Marcus, the founder and CEO of Lightspark, demonstrated the functionality of UMA Extend on his X account (formerly Twitter). He showcased how payments can be sent and settled almost instantaneously, which could lead to broader adoption of the Lightning Network due to its always-on, low-fee structure. The demonstration highlights the potential for the LN network to become more widely accepted in the financial industry.

David Marcus, fundador y director ejecutivo de Lightspark, demostró la funcionalidad de UMA Extend en su cuenta X (anteriormente Twitter). Mostró cómo los pagos se pueden enviar y liquidar casi instantáneamente, lo que podría conducir a una adopción más amplia de Lightning Network debido a su estructura siempre activa y de bajas tarifas. La demostración destaca el potencial de la red LN para lograr una mayor aceptación en la industria financiera.

Global Adoption and Vision for the Future

Adopción global y visión para el futuro

Lightspark's UMA protocol has already gained traction in 120 countries and is supported by notable names such as Coins.ph in the Philippines and Ripio in Latin America. The expansion of UMA through the new Extend feature aligns with Marcus’ broader vision for the future of the Lightning Network. Back in May, Marcus expressed his belief that LN could become the primary settlement network for global currencies. He predicted that any corporation needing to move money would eventually use LN and Bitcoin, either directly or indirectly.

El protocolo UMA de Lightspark ya ha ganado fuerza en 120 países y cuenta con el respaldo de nombres notables como Coins.ph en Filipinas y Ripio en América Latina. La expansión de UMA a través de la nueva función Extend se alinea con la visión más amplia de Marcus para el futuro de Lightning Network. En mayo, Marcus expresó su creencia de que LN podría convertirse en la principal red de liquidación de monedas globales. Predijo que cualquier corporación que necesitara mover dinero eventualmente usaría LN y Bitcoin, ya sea directa o indirectamente.

Widespread Use Among Cryptocurrency Exchanges

Uso generalizado entre los intercambios de criptomonedas

In addition to the UMA Extend feature, Lightspark's services are already being utilized by major cryptocurrency exchanges like Coinbase, Bitso, and Nubank. These platforms have integrated Lightspark’s technology to offer LN support for both deposits and withdrawals, further embedding the Lightning Network into the broader financial ecosystem.

Además de la función UMA Extend, los servicios de Lightspark ya están siendo utilizados por los principales intercambios de criptomonedas como Coinbase, Bitso y Nubank. Estas plataformas han integrado la tecnología de Lightspark para ofrecer soporte de LN tanto para depósitos como para retiros, integrando aún más Lightning Network en el ecosistema financiero más amplio.