LQwD FinTech Corp. (TSX.V: LQWD) (OTCQB: LQWDF) Secures CAD $8 Million Financing to Continue Expanding Proprietary Lightning Network PaaS

November 9, 2021 13:12:21
  • The company also secured an investment by BIGG Digital Assets, Inc., a seasoned investor in cryptocurrency future and owner of an already impressive portfolio of companies and minority investments in that field
  • The Lightning Network is scalable, global, open, inclusive, permissionless, and decentralized, and uses nodes that are connected through multiple channels that enable off-chain, instantaneous, and cheap payments at scale
  • LQwD’s platform makes it easy for businesses, exchanges, and investors, to use the Lightning Network, which offers a viable solution for scaling bitcoin for global microtransactions, designed to reduce transaction fees and improve settlement times
  • The network’s current capacity is estimated at over CAD $246.3 million (USD $198 million), with an average node capacity of approximately CAD $13,680 (USD $11,000), and over 29,000 nodes currently active
Financial tech and digital payment company LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF) announced that it secured CAD $8 million (USD $6.4 million) in financing to fund the future expansion of its proprietary Lightning Network Platform, to acquire additional bitcoin as an operating and reserve asset and to cover general corporate and working capital purposes (https://ccw.fm/IxEz9). More specifically, the company closed a previously announced offering of 20 million units at a price of CAD $0.35 (USD $0.28) each with gross proceeds of CAD $7 million (USD $5.6 million). An additional CAD $1,050,000 (USD $845,000) was obtained as a result of the offering’s… Read More>> NOTE TO INVESTORS: The latest news and updates relating to LQWDF are available in the company’s newsroom at https://ccw.fm/LQWDF About CryptoCurrencyWire CryptoCurrencyWire (“CCW”) is a financial news and content distribution company that provides (1) access to a network of wire services via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets, (3) enhanced press release services to ensure maximum impact, (4) social media distribution via IBN (InvestorBrandNetwork) to nearly 2 million followers, and (5) a full array of corporate communications solutions As a multifaceted organization with an extensive team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CCW brings its clients unparalleled visibility, recognition and brand awareness. CCW is where news, content and information about crypto converge. To receive instant SMS alerts from CryptoCurrencyWire, text “CRYPTO” to 77948 (U.S. Mobile Phones Only) For more information, please visit https://www.CryptoCurrencyWire.com Please see full terms of use and disclaimers on the CryptoCurrencyWire website applicable to all content provided by CCW, wherever published or re-published: https://CCW.fm/Disclaimer CryptoCurrencyWire (CCW) New York, New York www.CryptoCurrencyWire.com 212.994.9818 Office Editor@CryptoCurrencyWire.com CryptoCurrencyWire is part of the InvestorBrandNetwork.