USDT Pilot Brings Tokens to Bitcoin’s Lightning

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Bitcoin company Synonym sent the first USDT stablecoin transaction on the Lightning Network earlier this week to demonstrate how Bitcoin and Lightning could be leveraged for cheap and quick issuance and transfer of tokens and credit.

While Bitcoin provides a decentralized and immutable monetary network and Lightning enables the scaling of that system with a payment protocol, Synonym argues tokens could bring further innovation to the ecosystem as they allow the issuance of private credit and reputation on top of the robust two layers. At the same time, tokens can benefit from Lightning’s low-fee and instant transactions for a better user experience.

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