Zebedee’s Upgrade to Lightning Network for Fast and Affordable Cross-Border Payments

03/28/2023 13:13 • Crypto & Markets • 63 views

According to reports, digital payment processor Zebedee has announced an upgrade of its platform to utilize Bitcoin’s lightning network to achieve fast, secure, and low-cost cross-border payments between the United States, the United Kingdom, the European Union, Brazil, and the Philippines. In addition, Zebedee supports multi-currency payments through collaboration with Pouch.ph and Bipa. （The Block）

Zebedee Launches Bitcoin Flash Network Cross-border Payment Function

Digital payment processor Zebedee has announced its latest upgrade to its platform that utilizes Bitcoin’s lightning network to facilitate fast, secure, and affordable cross-border payments between the United States, the United Kingdom, the European Union, Brazil, and the Philippines. Besides, Zebedee collaborates with Pouch.ph and Bipa to enable multi-currency payments.

What Is Zebedee and How Does It Work?

Zebedee is a digital payment processor and wallet for Bitcoin’s lightning network that allows businesses to send and receive fast and low-cost payments across borders. It is built on a technology that facilitates instant payments, thus removing the need for typical payment infrastructure such as traditional banking systems. Instead, Zebedee allows users to issue and receive invoices in exchange for bitcoin, making cross-border transactions more accessible, faster, and cheaper.

The Benefits of Zebedee’s Lightning Network Upgrade

Zebedee’s latest upgrade using Bitcoin’s lightning network offers several advantages. Firstly, it enhances the security of transactions as lightning network transactions use digital signatures to secure payment channels, making it almost impossible to hack. Secondly, it offers near-instant transactions, with a transaction confirmation time of less than one second, rendering it more efficient than traditional payment systems. Thirdly, it lowers the cost of transactions as it eliminates the need for intermediaries or third parties, reducing fees and exchange rates.

Multi-Currency Payment Support

Zebedee has partnered with Pouch.ph and Bipa to support multi-currency payments, allowing businesses to pay in their preferred currency. Pouch.ph uses blockchain technology to provide a secure payment platform that facilitates payment processing in the Philippines. Meanwhile, Bipa provides payment solutions for businesses in Brazil, supporting transactions in Brazilian Real and Bitcoin.

How to Use Zebedee’s Payment Platform

To use Zebedee’s payment platform, users must first open a wallet on the lightning network, load their bitcoin, and connect with Zebedee’s payment plugins. Once a business receives a payment request, it can generate an invoice that includes the amount due, the bitcoin exchange rate, and the payment address. The purchaser then pays the invoice, and the funds are instantly credited to the seller’s wallet.

Who Benefits from Zebedee’s Lightning Network Upgrade?

Zebedee’s latest upgrade benefits businesses and merchants looking for faster, more secure, and cheaper cross-border payment solutions. It offers an alternative to traditional banking systems and reduces the high transaction fees associated with international payments.

Conclusion

Zebedee’s latest upgrade using Bitcoin’s lightning network represents a significant milestone in the world of digital payments. Its ability to facilitate fast, secure, and low-cost cross-border transactions makes it an attractive platform for businesses looking for efficient payment methods. Zebedee’s collaboration with Pouch.ph and Bipa also offers multi-currency payments, enabling businesses to transact in their preferred currency.

FAQs

1. Can individuals use Zebedee’s payment platform?
– Yes, individuals can use the platform to send and receive lightning payments.
2. How does Zebedee’s lightning network upgrade differ from traditional banking systems?
– Zebedee’s lightning network upgrade is more efficient, faster, and offers lower transactions fees than traditional banking systems.
3. Which countries does Zebedee’s lightning network support for cross-border payments?
– Zebedee’s lightning network supports cross-border payments between the United States, the United Kingdom, the European Union, Brazil, and the Philippines.

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