In a recent major breakthrough for crypto market participants in Mexico, top internet service provider Total Play integrated Bitcoin Lightning payments. This comes on the heels of MicroStrategy founder Michael Saylor’s announcement to leverage the Bitcoin Lightning Network in the corporate world. As the largest institutional holder of Bitcoin, MicroStrategy plans to launch a product suite with a BTC wallet and a Lightning address for corporate account holders.
The Mexico-based development is another significant step towards complete institutional adoption of the leading cryptocurrency. As a layer-two solution built atop the native blockchain, the Bitcoin Lightning Network aims to increase transaction speed and efficiency. Mexican users can now pay their internet bills with BTC via the integrated Lightning-based payments of Total Play, one of Mexico’s most prominent internet providers.
This substantial development in Mexico, a neighbor to the United States, has the potential to increase mainstream adoption of Bitcoin and educate people on the various use cases of cryptocurrency. Total Play Telecommunications currently ranks eighth in the list of the top 20 organizations with the largest IP allocations in Mexico, as per DB-IP.
The Lightning Network solution offers a valuable alternative when on-chain transactions face suspensions due to technical difficulties. For instance, top crypto exchange Binance recently announced its plan to enable BTC Lightning Network withdrawals to address situations where on-chain withdrawals come to a halt.
While the integration of Bitcoin Lightning payments by a major internet provider in Mexico presents a significant advancement for the cryptocurrency market, some may argue that the technology is still relatively new and unproven on a large scale. As a result, skepticism surrounding its widespread adoption and potential challenges remains.
Ultimately, the development in Mexico demonstrates growing interest and confidence in the application of the Bitcoin Lightning Network. As the market landscape evolves, various players will need to carefully assess the technology’s viability and potential risks before embracing it as a mainstream solution.
As with any investment decision, thorough market research is crucial before investing in cryptocurrencies. The opinions presented in this article do not necessarily reflect those of the publication, and individual financial responsibility remains at the discretion of the reader.
Source: Coingape
