Jack Dorsey’s TBD Launches a LN Arm
TBD, a subsidiary of Jack Dorsey’s Block focused on Bitcoin, has announced the launch of a Lightning Network (LN) ecosystem development arm called c=.
c= aims to solve the lack of liquidity problem, which often leads to transaction failures, by providing the necessary funds from Block’s Bitcoin reserves.
The platform also plans to act as a communication service provider for businesses and end users, as well as developing other services and tools to expand the protocol ecosystem.
This comes after Block (former Square) created the subsidiary in July 2021, with the aim of creating an open platform for developers of non-custodial, inclusive, and decentralized financial services. In September 2022, TBD and USDC operator Circle partnered to promote the use of stablecoins in savings and cross-border settlements.