VANCOUVER, BC, Dec. 23, 2021 /CNW/ - LQwD FinTech Corp.
(TSXV: LQWD) (OTC: LQWDF), a company focused on developing
institution grade payment infrastructure, liquidity and solutions
for the Lightning Network, is pleased to provide the following
corporate update.
As part of LQwD's ongoing strategy of granting stock options to
attract and retain talent, as well as long term incentive for its
team, the Company has granted 1,825,000 stock options exercisable
for a period of five years at a price of C$0.45 per share. These options will be
distributed to various directors, officers, employees, and
consultants and will be subject to deferred vesting over two
years.
About the Lightning Network
The Lightning Network is layer-two technology and a
solution to mass scaling the usage of Bitcoin for microtransactions
globally. In addition to having the ability to transact at millions
per second, Lightning Network dramatically improves upon fees, as
well as instant settlement times.
The Lightning Network continues to experience explosive growth
since January 1, 2021 as follows:
- Node growth of 105% from 770 to over 15,000 nodes now
established.
- Bitcoin capacity increased from 1,125 BTC to almost 3,000 BTC
up 160% to September 30, 2021.
- From 38,000 to more than 73,000 payment channels established up
92%.
Some well-known prominent companies such as Jack Dorsey's Lightning Labs, Twitter and Square
have openly expressed their enthusiasm to incorporate Bitcoin
Lightning Network into their platforms.
About LQwD FinTech Corp.
LQwD is an early mover as a Lightning Network Service Provider
(LSP) focused on developing payment infrastructure and solutions.
LQwD is developing institutional grade services that support the
Lightning Network and drive improved functionality, transaction
capability, user adoption and utility and scaling Bitcoin. LQwD
also holds and as warranted, acquires Bitcoin as an operating asset
to secure nodes, liquidity and payment channels across the
Lightning Network.
Forward-Looking Statements
This news release contains "forward-looking information"
within the meaning of applicable securities laws relating to the
Company's business plans and the outlook of the Company's industry.
Although the Company believes, considering the experience of its
officers and directors, current conditions and expected future
developments and other factors that have been considered
appropriate, that the expectations reflected in this
forward-looking information are reasonable, undue reliance should
not be placed on them because the Company can give no assurance
that they will prove to be correct. Actual results and developments
may differ materially from those contemplated by these statements.
The statements in this press release are made as of the date of
this release and the Company assumes no responsibility to update
them or revise them to reflect new events or circumstances other
than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE LQwD FinTech Corp.