Coinbase confirms plans for integrating the Lightning Network

• Coinbase says that it will add support for the Bitcoin Lightning Network.
• Cathie Wood praises the crypto exchange for the decision.
• The coin base shares have fallen by almost 30 % compared to their maximum of their annual status.

Coinbase Global Inc has decided to integrate the Lightning Network to make Bitcoin a practical option for faster and cheaper global payments.

How long will integration take?

The crypto exchange had tried to add support for the Lightning network since the beginning of August. On Wednesday, Brian Armstrong - his CEO - wrote on X (formerly Twitter):

We decided to integrate Lightning. Bitcoin is the most important asset in the crypto area and we look forward to contributing our part to enable faster/cheaper Bitcoin transactions.

How long the integration will probably take, he does not reveal.

The announcement takes place more than a month after coinbase His finance results for the second quarter clearly exceeded the estimates of Street. At the time of writing, the shares of the crypto company fell by almost 30 % compared to their previous maximum.

Note that Coinbase is striving for Global Cash App - the mobile payment service of the Block Inc., which is based in California, in response to his current announcement, he said: Cathie Wood by Ark Invest wrote on X:

The integration of Coinbase with Lightning will give its 100 million users access to faster and cheaper Bitcoin transactions. Hat off before coinbase!

The other well -known names that have spoken out loudly for the Lightning Network belongs to Michael Saylor - The Executive Chairman from Microstrategy Inc.

Also the former President of PayPal, David Marcus, confirmed his commitment this week to convert Bitcoin into a global payment network (learn more). The price of a BTC is currently about 20 % below its previous high.