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The Swiss cryptocurrency exchange will now allow deposits and withdrawals through the Lightning Network.

The Swiss cryptocurrency exchange will now allow deposits and withdrawals through the Lightning Network.

Mt Pelerin, a Swiss-based cryptocurrency exchange, has announced new support for the Bitcoin’s Lightning Network on their app.

The press release sent to Bitcoin Magazine describes how “users can now get Bitcoin directly on the Lightning network easily, by card or bank transfer, spend, receive and manage their sats with Mt Pelerin’s mobile app Bridge Wallet and cash out funds from Lightning back on their bank account in 14 currencies.”

The app and exchange serve 171 countries and six languages globally. Swiss regulation allows for users to buy and sell bitcoin with no identification required for amounts under CHF1,000 per day. This preserves privacy in the face of growing threats related to compromised personal information.

“Mt Pelerin plans to let advanced users run their own Lightning node in Bridge Wallet in the near future,” the release explains. “In the meantime, the current release takes care for the user of all the complex channel and liquidity management features of Lightning. This allows for a much easier user experience and completely free transactions. Those already running their own Lightning node and wallet can of course use the service to buy and sell sats on it.”

Also mentioned is the exploration of a payments solution for merchants, which could greatly grow the merchant-end of the Lightning Network. The virtually free and instant transactions that Lighting enables are especially useful for merchants, and express the power of Bitcoin in tangible ways for users. 

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