Summary
To support Bitcoin layer-2 developments and the expansion of financial technology, Blockstream, a well-known Bitcoin infrastructure company, has established a new research and development facility in Lugano, Switzerland.
Blockstream’s Strategic Move in Lugano
Blockstream’s R&D hub in Lugano aims to boost innovation in Bitcoin’s Liquid and Lightning networks. The center will bolster Lugano’s position as a center for blockchain development by providing grants, mentorship, and assistance to local startups. The city is also well-known for launching a statue of Satoshi Nakamoto and holding recent Bitcoin events.
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Funding and Layer-2 Development
The new R&D center follows Blockstream’s recent $210 million funding to drive Bitcoin layer-2 growth, expand its BTC holdings, and enhance mining operations. Blockstream’s previous investment rounds centered on cryptocurrency mining and growing the Bitcoin finance ecosystem are complemented by this endeavor.
Tools for the Bitcoin Community
Blockstream’s product suite includes Blockstream Green, a secure BTC wallet, and Greenlight, which simplifies BTC payment integration for developers. Additionally, the Liquid Network, launched in 2018, provides a platform for inter-exchange transactions, supporting brokers and market makers within the Bitcoin ecosystem.
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