"Secure Digital Markets (SDM) has completed a $1 million Bitcoin transaction over the Lightning Network in a pilot settlement with cryptocurrency exchange Kraken, marking what the firms say is the largest publicly reported Lightning payment to date. The transaction, executed on Jan. 28 and valued at $1 million at the time, settled nearly instantly and with minimal fees. It was facilitated using enterprise Lightning infrastructure from Voltage, a Bitcoin payments and infrastructure provider focused on institutional clients."
"Traditional Bitcoin transactions can take minutes or longer to confirm and are subject to fluctuating fees, factors that complicate treasury operations and inter-institution settlements. SDM said the pilot demonstrated that Lightning could support use cases such as internal treasury movements, large-value settlements, and transfers between trading venues without the delays associated with on-chain settlement. Kraken, one of the longest-operating crypto exchanges, has supported Lightning for retail payments for several years."
Secure Digital Markets completed a $1 million Bitcoin transaction over the Lightning Network in a pilot settlement with Kraken on Jan. 28, settling nearly instantly with minimal fees. The payment used enterprise Lightning infrastructure from Voltage, a Bitcoin payments and infrastructure provider for institutional clients. Lightning is a second-layer Bitcoin network that enables faster, cheaper payments by moving transactions off the base blockchain. The pilot tested Lightning's capacity for high-value transfers between regulated counterparties for internal treasury moves, large-value settlements, and transfers between trading venues. Traditional on-chain confirmations can take minutes and incur fluctuating fees that complicate treasury and inter-institution settlements, and Kraken reports rising institutional demand for faster settlement.
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