French government investment bank funds Bitcoin Lightning startup

posted 10 days ago
Veronique Jacq of the partially state-owned French investment bank BPIfrance said Bitcoin is becoming a staple of the global economy, and BPIfrance just made its first investment in a crypto startup, because the bank wants to play an active role in building bitcoin’s infrastructure. Lightning-focused startup ACINQ raised $8 million. Idinvest Partners (contributor in funding) managing director Nicolas Debock said “If you’re building for the digital economy … you need to build a strong and safe infrastructure. What I really like [about ACINQ] is they are not rushing to launch a product that isn’t ready.”

ACINQ has its own lightning implementation, Eclair, and the Eclair mobile wallet, and Strike, an application program interface (API) for lightning. Eclair lightning wallet garnered 15,000 downloads via Google Play since its 2018 launch. ACINQ operates the largest capacity lightning node on the network, supporting over 1,000 channels. The startup is focused on mobile devices and payments. ACINQ engineer Bastien Teinturier said “We want to be able to offer a great UX for private, reliable, instant payments, that even your grandmother could use.”
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