Classified in: Science and technology, Business

VICTORIA, British Columbia, Oct. 8, 2021 /PRNewswire-PRWeb/ — The Liquid Network, the world’s leading Bitcoin sidechain developed by Bitcoin infrastructure company Blockstream, is now supported by merchant payments technology Bitfinex Pay. The technology, built by world-class cryptocurrency exchange Bitfinex, now allows merchants to receive contactless and borderless payments of Liquid Bitcoin (L-BTC) and USDt on Liquid (USDt).

Liquid Bitcoin and USDt on Liquid are assets on the Liquid Network verifiably backed one-to-one with bitcoin (BTC) and Tether tokens (USDt) respectively, and utilize the Liquid Network’s innovative technology such as two-minute settlement finality and strong confidentiality through the use of zero-knowledge proofs. The utilization of Liquid’s technology allows merchants to quickly accept L-BTC and USDt for payments.

“Bitfinex Pay empowers merchants around the world that may not have access to traditional payment systems,” said Blockstream CSO Samson Mow. “The combination of the Liquid Network’s confidential transactions and fast settlement, with Bitfinex Pay’s seamless checkout experience, is a big game changer.”

“Bitfinex Pay is revolutionising digital payments and I expect a ready uptake of Liquid Bitcoin and USDt on Liquid among our growing user base,” said Paolo Ardoino, CTO at Bitfinex Pay. “Tech-savvy Bitfinex Pay customers will appreciate having access to these digital assets as we continually improve our user experience.”

The setup process for Bitfinex Pay is straightforward, and its integration with the Liquid Network unlocks the following benefits for merchants:

The ability to conduct business seamlessly without delay

Ensures cryptographically that customers’ sensitive financial data is kept confidential

Payments made to a Bitfinex Pay-enabled merchant are directly deposited to the merchant’s Bitfinex exchange wallet

Customers experience a fast checkout process with the combination of Bitfinex Pay and its Liquid Network integration. The checkout process is simply a matter of clicking on the Bitfinex Pay widget, which then directs the customer to the Bitfinex payment gateway where they can complete the purchase.

About Blockstream
Blockstream is the global leader in Bitcoin and blockchain infrastructure. Blockstream’s sidechain technology (Liquid Network) enables faster Bitcoin settlements while empowering financial institutions to tokenize assets. Blockstream Mining provides enterprise-class mining facilities for the colocation of Bitcoin mining operations. The Cryptocurrency Data Feed, developed in partnership with Intercontinental Exchange, delivers best-in-class real-time and historical exchange data. Blockstream Green is the world’s most advanced consumer Bitcoin wallet. Blockstream was founded in 2014, with offices and team members distributed around the world.

About the Liquid Network
The Liquid Network is a sidechain-based settlement network for traders and exchanges, enabling faster, more confidential Bitcoin transactions and the issuance of digital assets. The Liquid Network is operated and managed by its federated members, ensuring the system has no single point of failure. Learn how to get access to the future of digital asset finance at liquid.net.

About Bitfinex Pay
BFX Pay Limited is a digital token payment technology provider. Its solution, Bitfinex Pay, offers online merchants a means of receiving contactless and borderless digital token payments. The Bitfinex Pay widget can be integrated onto a website. Bitfinex Pay users can pay with Ethereum (ETH), bitcoin (BTC), Lightning Network BTC (LN-BTC) and Tether tokens (USDt) via Ethereum or Tron. Payments made via Bitfinex Pay will be directly deposited into a merchant’s exchange wallet on Bitfinex.

Media Contact

Fernando Nikolic, Blockstream, +1 (236) 987-8977, press@blockstream.com

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SOURCE Blockstream

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