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According to CoinDesk, bitcoin and blockchain technology company Blockstream has launched a research and development center in Lugano, Switzerland.
Blockstream, a leading bitcoin (btc) infrastructure company, announced the R&D center on November 7, noting that the project will help drive fintech innovation around bitcoin. Lugano is where Tether and the city of Lugano recently revealed a new statue for bitcoin creator Satoshi Nakamoto.
Specifically, the company, led by British cryptographer and one of bitcoin's OGs, Adam Back, sees the initiative as key to btc's Liquid and Lightning networks.
“The new center aims to significantly increase innovation at layer 2 by collaborating with startups and local partners, providing resources, mentorship and grants for outstanding projects.”
-Blockstream.
Blockstream's launch of the R&D center follows the company's co-hosting of recent btc-related events in Lugano and Viareggio, Italy.
Notably, Blockstream's initiative, which targets the broader bitcoin financial ecosystem, comes just weeks after the company raised $210 million in debt financing to fuel bitcoin's layer 2 growth. The company also planned to use the funds to expand its btc treasury and improve its bitcoin mining operation.
In August 2023, the company revealed plans to raise $50 million for its crypto mining venture.
Before this, Blockstream increase 125 million dollars in January 2023, and the company's plans will then focus on expanding its mining placement services. The platform launched Liquid Network, a platform for settlements between exchanges, market makers and brokers, in September 2018.
The company's wallet, Blockstream Green, allows users to store their btc.
With the desktop version, you can track prices, monitor rates, and organize UTXOs. Blockstream's Greenlight is another platform that helps developers easily integrate non-custodial btc payments into their apps.
