Miami-based Bitcoin startup TMRW Bitcoin has raised $1.3 million in pre-seed funding to develop its social payments app powered by the Bitcoin Lightning Network. Maple in C The funding round was led by VC, and Bitcoin angel investors like Brad Mills joined the round.
TMRW aims to leverage the speed and low costs of the Lightning Network to enable cross-border peer-to-peer payments through spark of light and Zero HashThe app uses Global Money Addresses, an open payment standard built on Lightning, to instantly send fiat and bitcoin across borders.
This allows TMRW to facilitate fast and affordable remittances to regions like the Caribbean, where traditional providers charge high fees. Remittances are a key use case for Bitcoin and Lightning because they offer significant cost savings compared to traditional finance.
Alexandra Lutchman, co-founder of TMRW, said the app shows how bitcoin can unlock borderless payments for family and friends around the world. The startup wants to demonstrate bitcoin’s everyday utility and make payments social.
The app includes features like adding messages, emojis, and photos to payments. TMRW also helps onboard new users by letting them earn Bitcoin rewards and see how their contacts are using Bitcoin.
TMRW is running beta trials in the Caribbean and has opened up the iOS beta to users in the US. The funding will help expand into the US market and make bitcoin and fiat transfers globally available.
Bitcoin Lightning technology has seen increased use for cross-border remittances and money transfers, offering significant cost savings compared to traditional providers. Money transfers are a major early use case for Bitcoin and Lightning, making sending money abroad cheaper and faster.