Miami-based Bitcoin startup TMRW has raised $1.3 million in pre-seed funding to develop a social payments app that leverages the Bitcoin Lightning Network. Maple VC They led the funding round, which also included participation from Bitcoin angel investors such as Brad Mills.
TMRW aims to leverage the speed and low cost of the Lightning Network to enable cross-border peer-to-peer payments. Light Spark and Zero HashThe app uses Universal Money Addresses, an open payment standard built on Lightning, to instantly send fiat currency and Bitcoin across borders.
This will enable TMRW to provide fast and affordable remittances to regions such as the Caribbean where traditional providers charge high fees. Remittances are a major use case for Bitcoin, lightning This is because it allows for significant cost savings compared to traditional financing.
TMRW co-founder Alexandra Latchman said the app shows how Bitcoin can enable cross-border payments to family and friends around the world. The startup wants to demonstrate Bitcoin’s everyday usefulness and make payments social.
The app includes features such as the ability to add messages, emojis and images to payments, and TMRW helps onboard new users by allowing them to earn Bitcoin rewards and see how their contacts are using Bitcoin.
TMRW is currently testing in the Caribbean and has opened up its iOS beta to US users, and the funding will help it expand into the US market and make Bitcoin and fiat transfers available worldwide.
Bitcoin Lightning is seeing growing adoption in remittances and cross-border transfers due to the significant cost savings it offers over traditional providers. Remittance These are some of the early major use cases for Bitcoin and Lightning, making international money transfers cheaper and faster.
