Lastbit Inc. has joined Visa’s Fintech Fast Track program, thus accelerating the process of integrating with Visa and allowing the company to more easily leverage the capabilities of Visa’s global payments network.
Lastbit is developing a payments platform that enables consumers to utilize Bitcoin and make payments in both fiat and Bitcoin – anywhere.
The Fast Track program will mean that Lastbit can integrate its Lightning Network-based payments platform to enable its banking partners and any other innovators to issue Visa credentials to end consumers. Lastbit can now work with Visa’s vast array of banking partners and principal members, to quickly get set up, build a minimally viable product, and launch.
Prashanth Balasubramanian, founder and CEO of Lastbit, states:
“Lastbit’s payments platform, allows users to pay anyone, anywhere in the world irrespective of what currency they use (Bitcoin or fiat), with low fees – Instantly.”
Lastbit says it will soon launch its first proof of concept product in the European market with Bitcoin/Euro gateway.
“As the preferred network for digital currency wallets, we are excited to help innovative fintechs like Lastbit harness the value of Visa’s network,” said Cuy Sheffield, Head of Crypto at Visa. “Through the Fast Track program, we can support Lastbit with access to Visa’s experts, technology, and resources to scale with efficiency.”
Lastbit is backed by notable investors such as Charlie Lee (Litecoin), UC Berkeley’s SkyDeck, Fulgur Ventures and others.