Liquid Federation, a consortium of major exchanges, bitcoin infrastructure companies, and wallet providers, has welcomed six new members.
Liquid Network, a Layer 2 solution that enables settlement and issuance of crypto assets on Bitcoin, which was announced on June 2 blog post On its official website, Bcademy, Boltz Exchange, Equitas Foundation, JAN3, Maven, and Mifiel have all joined the Liquid Federation.
The new members expanded the federation’s total membership to 67, further diversifying its global reach.
The six companies joined the union after its annual meeting Board elections On April 18th. In the elections, each new member had a representative who would join one of the three boards that run and govern the Liquid Network, namely its membership, oversight, and technical boards.
Liquid stated that the addition of the six new members will enable the Liquid Federation to expand its global presence, foster innovation and open up new opportunities for users seeking to engage with the Bitcoin financial layer.
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The network also said that as the consortium matures, its diverse membership and unique contributions will solidify Bitcoin’s position as a versatile and accessible financial ecosystem.
The Lightning Network is growing a global footprint
All new members use Liquid Grid in their operations. Bcademy provides customized education, training, consulting and development services related to Bitcoin in Italy.
It leverages Liquid’s capabilities to manage fungible and non-fungible tokens, facilitate transfers across different layers and sidechains of Bitcoin, and allows customers to access Liquid Bitcoin through an OTC service desk.
Boltz Exchange is a Bitcoin (BTC) exchange and Lightning Service Provider (LSP). He. She managed Lightning node operators to rebalance their channels across Liquid, reducing operating costs in high-fee environments.
Another new consortium member, Maven, deals exclusively with real-world assets on the Liquid blockchain. It was the first marketplace to sell real estate as a non-fungible token (NFT), with ownership registered on Liquid.
The addition of the six companies to the Lightning Federation comes shortly after Binance CEO Changpeng Zhao (CZ) hinted at the cryptocurrency exchange adopting the L2 scaling solution.
CZ said on June 2 on Twitter Space that Binance is actively looking into integrating the Lightning Network into its exchange. However, he emphasized that the implementation process is much more complicated than it might seem at first glance.