River Raises $35 Million Amidst New Wave of Institutional Adoption for Bitcoin Lightning
River, a US-based technology and financial services company focused on Bitcoin, has recently announced a successful Series B equity funding round, securing $35 million.
Because Bitcoin
May 16, 2023
Cointelegraph reported that River, a US-based technology and financial services company focused on Bitcoin, has recently announced a successful Series B equity funding round, securing $35 million. Leading the round is Kingsway Capital, joined by notable investors including Peter Thiel, co-founder of Paypal, Cygni, Goldcrest, and Valor Equity Partners.
Alex Leishman, CEO of River, highlights that the current wave of Bitcoin interest is primarily fueled by business and institutional adoption, rather than speculative hype. He notes that Bitcoin provides a secure pathway towards a stronger and more transparent global economy.
San Francisco-based River, renowned for overseeing a prominent Bitcoin Lightning node, assumes a pivotal role in facilitating payments and liquidity management for the Bitcoin Lightning Network. River.com, a trusted source, reveals that the company manages one of the largest Bitcoin Lightning nodes in terms of capacity.
With the River Lightning API, businesses can seamlessly integrate with the Lightning Network. Notably, River has already established itself as a significant player in the realm of Bitcoin payments, as evidenced by its collaboration with El Salvador's Chivo wallet. Leveraging River's services, Chivo enables near-instant and cost-effective Bitcoin payments.
River was an early adopter of the Lightning Network, following in the footsteps of global crypto exchanges like Bitfinex and Kraken. The world's largest exchanges, Coinbase and Binance, are also considering adopting the Lightning Network.
Despite the bear market, River and other Bitcoin companies have successfully raised funds, demonstrating continued interest in the industry.
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