Bitcoin Can Get You Big Brands' Gift Cards Thanks to Bitfinex-Bitrefill Strategic Alliance

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Wed, 12/04/2019 - 12:30
Yuri Molchan
Bitfinex joins efforts with Bitrefill to allow Bitcoin users from the crypto exchange to “live on crypto”
Bitcoin Can Get You Big Brands' Gift Cards Thanks to Bitfinex-Bitrefill Strategic Alliance
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On his Twitter page, the Bitfinex CTO Paolo Ardoino has shared the news that the major Bitfinex exchange and the crypto company Bitrefill have started collaborating to allow clients of Bitfinex “live on crypto” as Ardoino put it.

Big brands’ pay cards for Bitcoin

From now on, Bitfinex users can use their account on the exchange to buy digital gift cards from Bitrefill and use Bitcoin to do that. Besides, they now have a chance to top up their smartphones with crypto in nearly 200 countries.

As reported by U.Today recently, Bitfinex has added the Lightning Network to its platform. Now, Bitfinex customers can use it for quickl purchasing gift cards (over 2,000) of major brands with their Bitcoin balances.

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First dynamic B2B settlement process over the Lightning Network

The Medium post by the Bitrefill team says:

“The provision of this new payment feature underlines our companies’ commitment to building a new digital economy, Bitfinex and Bitrefill utilize customized versions of Lightning to open large channels together, exceeding the default limits in place, but allowing better flow and reliability to users.”

The two companies have taken the first step towards creating the first global instant B2B process of settlement by means of the Lightning Network.

Paolo Ardoino commented on that:

“We believe that getting bitcoin exchanges on to the Lightning Network early is integral to preparing for the next wave of adoption and building out a parallel economy for Bitcoin. This collaboration signals a new era for Bitcoin commerce.

We will continue to work closely with Bitfinex and other businesses to develop Lightning solutions and products that make living on crypto a reality, eventually removing dependability on fiat rails.”

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.