On Monday, January 10, the Argentina-based mobile wallet company Belo announced that the platform has added support for the Lightning Network by partnering with the bitcoin payment processor and infrastructure provider Opennode. The mobile application allows users to trade and transact in pesos and now users can transact with bitcoin payments going forward.
Belo Partners With Opennode, Introduces Lightning Network Support
Belo, the Argentine mobile wallet application founded by Manuel Beaudroit aims to “create a bridge” between the crypto world and life in pesos. On Monday, the company announced it has partnered with the bitcoin (BTC) payment processor Opennode and the application will support the Lightning Network. The Belo application is available for iOS and Android smartphones and it also supports ethereum and a few stablecoins pegged to the U.S. dollar.
“Our partnership with Opennode is incredibly important for our users,” Manuel Beaudroit, the CEO of Belo said in a statement. “Our goal is for more and more people to learn and experience the potential and benefit of cryptocurrencies for everyday life, on a day-to-day basis, and in a simple way. With Belo, users only need one peso to start depositing money and buying crypto in a way that is usable by and accessible to everyone over 13, regardless of their purchasing power.”
Opennode Executive Looks Forward to ‘Millions of People in Latin America’ Accessing Bitcoin
Belo wallet launched in 2020 and Latin American residents have been able to obtain crypto assets via the mobile application and a Mastercard. The startup’s website insists that anyone above the age of 13 can use the Belo mobile wallet application, and either pay in pesos or cryptocurrencies.
Opennode’s head of growth, Julie Landrum, explained during the announcement that the company looks forward to giving Latin American’s more choices in finance. “We’re incredibly excited about Opennode’s integration with the Belo App, as this means millions of people in Latin America will have the ability to transact instantly in bitcoin, furthering adoption in a region where bitcoin growth is exploding,” Landrum remarked.
At the time of writing, there is over 3,200 BTC locked in the Lightning Network or $136.6 million. The Lightning Network’s total value locked (TVL) is 36.79% lower than it was on November 8, 2021, when it reached $216.13 million.
What do you think about Belo App partnering with Opennode and integrating the Lightning Network? Let us know what you think about this subject in the comments section below.