Bitfinex Collaborates with Synonym to Integrate Lightning Channels

We are pleased to announce that Bitfinex has officially become the first exchange to provide Lightning Channels. 

Bitfinex collaborated with Synonym, a Bitfinex-sister company launched in 2021, to introduce a novel feature that enables Bitfinex customers to configure and purchase Lightning connections (inbound channels) instantly. 

Thanks to this collaboration, Bitfinex customers can not only make deposits & withdrawals via the Lightning Network but also purchase Lightning channels via Bitfinex's integration with Blocktank.

Blocktank is a full-service Lightning Service Provider (LSP) launched by Synonym in early 2023 to address some of the complexities faced by Lightning Network adopters and offer liquidity and channel management services for individuals through its widget and inside Bitkit, Synonym's self-custodial wallet. 

Blocktank empowers customers to access the Lightning Network's benefits, security model, Lightning-fast transactions, low fees, and instant settlement while preserving self-sovereignty. With Blocktank, Bitfinex customers can swiftly establish robust and liquid channels, ensuring a high success rate for payments and immediate access to spending balances.

Visit our Blog to find out more about the collaboration and our Knowledge Base article to learn how to buy a Lightning Channel on Bitfinex. 

More information on Synonym can be found at: https://synonym.to/products.