VANCOUVER, BC, Jan. 30,
2024 /CNW/ - LQWD Technologies Corp., (TSXV:
LQWD) (OTC: LQWDF) a leading infrastructure and liquidity provider
for the Bitcoin Lightning Network, as well as a holder
of Bitcoin as an operational asset, announces the
milestone of surpassing over 325,000 in transaction routing volume
across the Company's global node network.
Since the initial launch of LQWD's first LN node in November 2021, routing transaction volume is
consistently achieving month-over-month organic growth at an
impressive rate, with the top performing nodes in Canada, USA,
Indonesia, France, and Germany.
A key factor that has attributed to LQWD's volume acceleration
is the collection of key data points and the implementation of AI
to improve performance. Since leveraging AI to optimize and
automate channel opening, LQWD's nodes have now connected to more
than 1,000 channels across the network, with the Company's
Canada node ranking amongst the
top seven of more than 14,000 reported nodes over the LN network.
Moreover, the Company's Canada
node hit record volume in December
2023 with nearly 35,000 transactions routed, which is a
substantial volume breakout that can be attributed to LQWD's AI
powered capabilities.
Shone Anstey, LQWD's CEO, commented "We are beginning to see a
network effect taking place with 1,200% growth in transactions over
the LN in the past two years as well as increasing interest and
funding from Venture Capital companies. Our team is very excited
and can foresee the opportunities for LQWD as the only
publicly traded Bitcoin Lightning Network pure play
within the rapidly growing eco-system. Furthermore, LQWD is
firmly established as a LN focussed company with a revenue
generating model in place to capture continued growth of the
network and the associated transaction fee revenue."
With the completion of the recent private placement, which was
fully subscribed predominately by existing shareholders and
directors, LQWD is well positioned for organic growth as well as
growth through acquisition.
For more details, check out LQWD Technologies Corp.'s corporate
presentation, and stay updated on Lightning Network node growth or
connect to our nodes in real time.
About Lightning Network
Bitcoin Lightning Network is a payment layer
for the internet. LN leverages the power of Bitcoin's
supreme trust protocol, which facilitates instant peer-to-peer
transaction faster than any other payment rail. It is reported that
LN activity has increased by 1200% over the past two years with
participants such as MicroStrategy (MSTR) driving adoption and
developing enterprise grade LN tools for business, taking advantage
of the unmatched capability of the network.
Most recently, LN announced the integration of stable coin
transaction capability, which opens LN to a much wider user base.
Furthermore, many of the world's top cryptocurrency
exchanges are integrating LN into their platforms as well as
forward-thinking global business as LN transacts dramatically
faster and cheaper than current payment rails such as Visa and
Mastercard.
About LQWD Technologies
LQWD is a Bitcoin Lightning Network Liquidity
Provider focused on developing payment infrastructure and solutions
accelerating the global mega trend of Bitcoin adoption
through the Lightning Network. LQWD also owns Bitcoin
that is used as an operating asset establishing nodes and payment
channels on the Lightning Network.
Forward-Looking Statements
This news release contains "forward-looking information"
within the meaning of applicable securities laws relating to the
Company's business plans and the outlook of the Company's industry.
Although the Company believes, considering the experience of its
officers and directors, current conditions and expected future
developments and other factors that have been considered
appropriate, that the expectations reflected in this
forward-looking information are reasonable, undue reliance should
not be placed on them because the Company can give no assurance
that they will prove to be correct. Actual results and developments
may differ materially from those contemplated by these statements.
The statements in this press release are made as of the date of
this release and the Company assumes no responsibility to update
them or revise them to reflect new events or circumstances other
than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE LQWD Technologies Corp.