Breaking: Bitcoin Lightning Network to be used in fiat transfers between EU and Africa

r/Bitcoin Lightning Network to be deployed for fiat transfers between the UK, Europe, and African countries.

Coin Corner and Bitnobl have launched a new application, Send Globally, which enables transfers between British Pounds $GBP or Euros $EUR and $NGN, $KES, and $GHS, currencies of Nigeria, Kenya, and Ghana.

Bitcoin Lightning Network is a Bitcoin’s second-layer solution that allows off-chain computations for fast and cost-efficient transactions.

The transactions are automatically converted into BTC and the selected local currency when deposited into the receiver’s bank account or wallet.

With the Lightning Network users will be able to avoid high costs and fees. In the last year, 14.1% of global remittance payments were allocated to the Sub-Saharan African region.