Lastbit joins Visa's Fintech Fast Track Program
Lastbit is working with Visa to integrate Bitcoin and the Lightning Network, furthering its work towards delivering a truly instant, global payments system.
Berkeley, September 2020 – Lastbit Inc., a young FinTech company headquartered in Berkeley, California is building on Bitcoin and the Lightning Network, a payments platform to allow mainstream consumers to easily get started with Bitcoin and make payments in both Bitcoin and fiat anytime, anywhere.
Lastbit, today announced that it has joined Visa’s Fintech Fast Track program, speeding up the process of integrating with Visa and allowing the company to more easily leverage the reach, capabilities, and security that Visa’s global payments network offers. Through this program, Lastbit will soon be able to integrate its Lightning Network based payments platform to enable its banking partners and any other innovators to issue Visa credentials to end consumers. Prior to joining the Fast Track program, the issuance process was lengthy and drawn out in conversations with various banks and program managers. However, Lastbit can now work with Visa’s vast array of banking partners and principal members, to quickly get set up, build a minimally viable product and launch.
The Lightning Network is a nascent but promising development on top of the Bitcoin blockchain, to in-effect settle Bitcoin transactions instantly and with very low fees, making economical micro-transactions a reality. Lastbit leverages Lightning in its efforts to build a payments platform (and a proof of concept mobile application on iOS/Android) that will allow anyone, anywhere to get paid or pay in Bitcoin or with the consumers’ Visa credential converted into fiat, quickly and securely. The traditional coffee cup transaction is now a reality – “Lastbit’s payments platform, allows users to pay anyone, anywhere in the world irrespective of what currency they use (Bitcoin or fiat), with low fees – Instantly“, says Prashanth Balasubramanian, Founder and CEO of Lastbit.
Lastbit’s first application featuring a seamless Bitcoin/Euro gateway. Signup for the beta on lastbit.io
Soon to launch their first proof of concept product in the European market, Lastbit is backed by notable investors such as Charlie Lee (Litecoin), UC Berkeley’s SkyDeck, Fulgur Ventures and others.
Visa’s Fintech Fast Track Program provides startups like Lastbit the ability to access Visa’s growing partner network, and experts who can provide guidance in helping them get up and running in the most efficient way possible. To learn more, visit https://partner.visa.com/homepage.html
“As the preferred network for digital currency wallets, we are excited to help innovative fintechs like Lastbit harness the value of Visa’s network,” said Cuy Sheffield, Head of Crypto at Visa. “Through the Fast Track program, we can support Lastbit with access to Visa’s experts, technology, and resources to scale with efficiency.”