The popular mobile payment app Cash App has integrated the Lightning Network Bitcoin (BTC) as part of an update that allows faster and cheaper transfers of BTC using the Layer 2 (L2) payment protocol.
The Cash app is developed and owned by Block (formerly Square), a financial technology company co-founded by former Twitter CEO Jack Dorsey. The announcement of the BTC L2 integration was posted as a warning in the official Cash app, which was posted on Crypto Twitter:
The Bitcoin Lightning Network Protocol removes the notable limitations of the BTC blockchain to increase speed while reducing transaction costs.
Just last month, Dorsey appeared in a video with the Lightning Development Kit (LDK), a service developed by Spiral, a subsidiary of Square that builds the Bitcoin ecosystem. The LDK allows developers to integrate the Lightning protocol into Bitcoin wallets and related services.
Before leaving Twitter, Dorsey also expressed interest in integrating the L2 protocols for the recently launched Twitter and BlueSky services:
The latest Business of Apps data shows that Cash has targeted more than 36 million users in the US and UK.
About it: Blocks Cash App Will Allow Users to Give BTC for Holidays
To help increase bitcoin adoption, the Cash app has launched a service that allows users to give away BTC and promotions during the holidays.
The Cash app allows users to send as little as $1 in BTC without having to hold the assets up front.