The Vietnamese bitcoin exchange VBTC has integrated the Lightning network.
in the an announcement On Sunday, Vietnam’s oldest (and supposedly only Bitcoin-exclusive) exchange announced that the Lightning Network’s withdrawals are now open to its users.
According to an article From BitcoinVN News, the media arm of BitcoinVN, a parent company that also owns VBTC, Lightning Network withdrawals are valued at 1,000 Satoshis plus 0.2% of the amount withdrawn. Regular Bitcoin withdrawals have a fee of 100,000 satoshis (0.001).
The news comes a few days after the exchange also introduced SegWit native batch transactions, which allows customer withdrawals to be aggregated into SegWit transactions to lower fees down the chain.
The introduction of VBTC makes it one of the first exchanges to go live with the burgeoning technology. It also complements a growing list of exchanges that have pledged (or launched) support for Lightning this year as the technology continues to spread to exchanges in different parts of the world.
The Bitfinex and River Financial exchanges came in 2021 with full support for the Lightning network, and the US-based Kraken Exchange announced in late 2020 that it would launch support sometime in 2021.
Elizabeth Stark, CEO of Lightning Labs, whose company is developing the leading implementation of Lightning Network software, told BitcoinVN News that the integration of VBTC adds more charge to an already electrical network effect.
“We believe Bitcoin has so much potential for billions of people around the world, and VBTC’s Lightning integration is a big step in bringing it to Asia and beyond,” she said. “The more exchanges join the Lightning network, the more people can transact instantly and worldwide with low fees. Network effects in action. “