LQwD FinTech Corp. (TSXV: LQWD, OTC: LQWDF), a company focused on developing institution grade payment infrastructure, liquidity and solutions for the Lightning Network, is pleased to provide the following corporate update.
As part of LQwD’s ongoing strategy of granting stock options to attract and retain talent, as well as long term incentive for its team, the Company has granted 1,825,000 stock options exercisable for a period of five years at a price of C$0.45 per share. These options will be distributed to various directors, officers, employees, and consultants and will be subject to deferred vesting over two years.
About the Lightning Network
The Lightning Network is layer-two technology and a solution to mass scaling the usage of Bitcoin for microtransactions globally. In addition to having the ability to transact at millions per second, Lightning Network dramatically improves upon fees, as well as instant settlement times.
The Lightning Network continues to experience explosive growth since January 1, 2021 as follows:
- Node growth of 105% from 770 to over 15,000 nodes now established.
- Bitcoin capacity increased from 1,125 BTC to almost 3,000 BTC up 160% to September 30, 2021.
- From 38,000 to more than 73,000 payment channels established up 92%.
Some well-known prominent companies such as Jack Dorsey’s Lightning Labs, Twitter and Square have openly expressed their enthusiasm to incorporate Bitcoin Lightning Network into their platforms.
About LQwD FinTech Corp.
LQwD is an early mover as a Lightning Network Service Provider (LSP) focused on developing payment infrastructure and solutions. LQwD is developing institutional grade services that support the Lightning Network and drive improved functionality, transaction capability, user adoption and utility and scaling Bitcoin. LQwD also holds and as warranted, acquires Bitcoin as an operating asset to secure nodes, liquidity and payment channels across the Lightning Network.
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This news release contains \”forward-looking information\” within the meaning of applicable securities laws relating to the Company’s business plans and the outlook of the Company’s industry. Although the Company believes, considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.