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bitcoin Lightning Network Company Neutron payment has secured a $1.5 million bridge financing round led by Axiom Capital, according to a press release sent to bitcoin Magazine. This investment aims to help Neutronpay provide instant and cost-effective payment solutions in Southeast Asia's digital economy with bitcoin.
“We are delighted to continue supporting Albert and the team as they demonstrate the utility of Lightning infrastructure in Southeast Asia,” says Allen Farrington on behalf of Axiom. “We expect to see continued normalization of the Lightning Network's superiority over legacy fiat banking rails for a variety of payment categories and are happy to support Neutronpay as one of the leading companies at the forefront of this technology.”
Axiom Capital's support reflects its confidence in Neutronpay's ability to demonstrate the advantages that the Lightning Network can bring to Southeast Asia, as this technology is expected to eclipse traditional fiat banking systems for various payment categories.
“This pivotal milestone marks a significant expansion of our operations in Southeast Asia and beyond, venturing into the dynamic markets of North Asia,” said Albert Buu, Founder and CEO of Neutronpay. “By harnessing the unparalleled potential of the Lightning Network, we are not only driving faster, more efficient transactions, but we are also unlocking new possibilities in the digital economy.”
Neutronpay also stated that it recognizes the importance of cultural integration in Southeast Asia, which is why the company is taking an approach to go beyond financial transactions and aims to align with the cultural and economic narratives of the region.