Secure Digital Markets (SDM) completed a $1 million Bitcoin transaction via the Lightning Network on January 28 in a pilot project with cryptocurrency exchange Kraken, the companies announced. The transaction represents the largest Lightning payment ever publicly recorded, according to the companies. The payment settled almost instantly with minimal fees.
The operation was facilitated by Voltage’s Lightning enterprise infrastructure. The institutional trading and lending desk said the pilot demonstrated how Lightning can support use cases such as internal treasury movements, high-value settlements, and transfers between trading venues without the delays associated with on-chain settlement. Kraken has supported Lightning for retail payments for several years. The company said the transaction reflects growing demand from institutional clients for faster settlement options.
Graham Krizek, founder and CEO of Voltage, said the transaction highlights the network’s maturity and its ability to meet enterprise requirements. The pilot project was designed to test whether the Lightning Network can support high-value transfers between regulated counterparties.
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