Press Release / Technology / Lastbit’s Instant Payment System Brings Bitcoin into the Mainstream

Lastbit’s Instant Payment System Brings Bitcoin into the Mainstream

Berkeley, Calif: Getting started with Bitcoin has never been easier - thanks to an intuitive payments system that Lastbit has been working on for over a year now.

Lastbit has built an interoperable payments layer between Bitcoin and Euros (USD coming soon), that allows new and experienced users to get started with Bitcoin and the Lightning Network in the simplest possible manner. This means zero setup overhead and zero complexity in understanding internal Bitcoin or Lightning mechanics.

Users can deposit, withdraw, send and spend Bitcoin or Euros on the Bitcoin network or on Lightning immediately. For example, one could get paid in Euros to a debit card issued by one of the world’s largest networks, by someone paying in Bitcoin over the Lightning Network and vice versa! Users may also opt in to simplify their Bitcoin purchasing and usage experience by opting to automatically buy Bitcoin on a weekly basis or custom frequency, more popularly known as Dollar Cost Averaging.

Created by Prashanth Balasubramanian, Bernardo Magnani Blanco, and Ashvin Panicker, Lastbit is their combined vision to enable the mass-market adoption of crypto-currency.

"For the first time in the history of Bitcoin, you can now walk into a store and pay for your purchase using bitcoin even if the merchant does not accept crypto-currency - securely, instantly and seamlessly, in addition to a multitude of other payments use cases previously unimaginable in the history of electronic money. Lightning enables instant peer to peer transactions and we’ve leveraged this to build truly unique payment models" said CEO Mr. Balasubramanian.

The application is now available to beta test with testnet Bitcoin from the Lastbit website. With over 1000 users signed up for the beta, Lastbit will begin rolling out a user feedback led, revamped version of the application, compliant with Europe’s 5th Anti-Money Laundering Directive in the coming months, to select users. In addition, Lastbit will begin shipping physical Lightning powered debit cards to European/EEA consumers shortly. Join their telegram group or sign up for the mailing list to follow their progress.

"Lastbit allows new and experienced crypto users alike, to easily move between Bitcoin and Euros, giving them the ability to seamlessly use bitcoin for their daily purchases." added Mr. Panicker. "Money needs an upgrade and we believe using Bitcoin is a leap in that direction"

Launched in October 2018, the company has raised nearly $600k in seed funding from the likes of Charlie Lee and Fulgur Ventures. Lastbit is an alumni of UC Berkeley’s SkyDeck accelerator.

For more information about Lastbit view their website: https://lastbit.io/ or email: info@lastbit.io.