David Marcus Launches Bitcoin Payments Startup Lightspark

David Marcus, former cryptocurrency head at Meta, is launching Lightspark, another payments company that will use crypto as its central payment tool. The startup, which will have Marcus at the helm as CEO, also features some of Meta’s former employees and will explore the possibilities of using the layer 2 Lightning Network (LN) as a vehicle for bitcoin payments.

David Marcus, former cryptocurrency project boss at Meta, is doubling down on the importance he thinks crypto might have for payments in the future. Marcus announced this week on social media he and others were launching a cryptocurrency company called Lightspark that aims to harness the capabilities of crypto for the payments area.

As a first step, we’re actively assembling a team to dive deeper into the Lightning Network.

While the company is still in exploratory phases, Marcus has been able to attract major names in the VC arena, including A16z and Paradigm, who have co-led an initial investing round with an undisclosed amount raised. Other VCs that participated in the round include Thrive Capital, Coatue, Felix Capital, Ribbit Capital, Matrix Partners, and Zeev Ventures.

Downturns are good moments to focus on building and creating value with mission-aligned people. We’re excited to dive into Lightning, learn more, and work alongside the community.

What do you think about Lightspark, the newly launched crypto payments company? Tell us in the comments section below.

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