David Marcus, the former head of Meta Platforms Inc-owned Facebook’s crypto project Diem, has launched a Bitcoin payments startup.
What Happened
Marcus and a few ex-Meta crypto team members have started a new venture, according to a report from TechCrunch on Thursday.
The new company, called Lightspark, would build on the Bitcoin Lightning Network. It will reportedly work towards building and extending the capabilities and utility of Bitcoin.
For context, Bitcoin’s Lightning Network enables cheaper and quicker transactions. A recent study estimates that the number of payments on Lightning doubled in the last year, while the value of payment quadrupled.
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