{"id":28363,"date":"2020-09-08T16:41:39","date_gmt":"2020-09-08T13:41:39","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=28363"},"modified":"2025-08-27T11:18:18","modified_gmt":"2025-08-27T08:18:18","slug":"bitfinex-backs-lightning-network-based-bitcoin-derivatives-exchange-ln-markets","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitfinex-backs-lightning-network-based-bitcoin-derivatives-exchange-ln-markets\/","title":{"rendered":"Bitfinex backs Lightning Network-based Bitcoin derivatives exchange LN Markets"},"content":{"rendered":"<p>The LN Markets cryptocurrency derivatives exchange, built on Bitcoin&#8217;s second-layer protocol Lightning Network (LN), announced the closing of a pre-seed round of funding with participants Bitfinex, Fulgur Ventures and Arcane Crypto. <!--more--><\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">\u26a1\ufe0f\u26a1\ufe0f\u26a1\ufe0f\u26a1\ufe0f <a href=\"https:\/\/twitter.com\/bitfinex?ref_src=twsrc%5Etfw\">@bitfinex<\/a> and co. investing in the right projects to support <a href=\"https:\/\/twitter.com\/hashtag\/LightningNetwork?src=hash&#038;ref_src=twsrc%5Etfw\">#LightningNetwork<\/a> \u26a1\ufe0f expansion!<a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> Layer 2 is the way <a href=\"https:\/\/t.co\/Jb06UXyLWy\">https:\/\/t.co\/Jb06UXyLWy<\/a><\/p>\n<p>\u2014 Paolo Ardoino (@paoloardoino) <a href=\"https:\/\/twitter.com\/paoloardoino\/status\/1303226305106903040?ref_src=twsrc%5Etfw\">September 8, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The exchange did not disclose the amount raised. Arcane Crypto said that after the investment the company became the owner of 7.14% of the platform&#8217;s shares.<\/p>\n<p>Traders in the LN Markets app execute trades directly from their LN wallet without needing to rely on the exchange as custodian.<\/p>\n<blockquote>\n<p>&#8220;We conducted a demonstration with one of the largest fund managers in France, and for them it looked like magic. Settlement for a traditional financial instrument can take up to three days. With Bitcoin\u2014from one hour to one day. But with Lightning it happens instantly,&#8221; noted LN Markets co-founder \u0420\u043e\u043c\u0435\u043d \u0420\u0443\u0444\u0430\u044d\u043b\u044c.<\/p>\n<\/blockquote>\n<p>The exchange said that since the alpha version of the app launched in March this year, trading volume has exceeded $10 million, despite trading limits of 0.01 BTC per trader.<\/p>\n<p>The platform set the limit to avoid the need for KYC procedures. Under EU rules, this is not required for transactions up to \u20ac50.<\/p>\n<p>Earlier in September, the aggregate value of bitcoins in the Lightning Network <a href=\"https:\/\/u1f987.com\/en\/news\/value-of-bitcoins-locked-in-the-lightning-network-hits-a-new-high\">reached<\/a> a new high.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The LN Markets cryptocurrency derivatives exchange, built on Bitcoin&#8217;s second-layer protocol Lightning Network (LN), announced the closing of a pre-seed funding round with participants Bitfinex, Fulgur Ventures and Arcane Crypto.<\/p>\n","protected":false},"author":1,"featured_media":28364,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1874,95,1168,325],"class_list":["post-28363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-arcane-research","tag-bitfinex","tag-crypto-derivatives","tag-lightning-network"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=28363"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28363\/revisions"}],"predecessor-version":[{"id":28365,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28363\/revisions\/28365"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/28364"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=28363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=28363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=28363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}