ICYMI: Lightning Labs unveils new protocol for Lightning Network stablecoins as it raises $70 million
The hope is that Taro protocol can “bitcoinize the dollar” by bringing stablecoins to the Lightning Network.
“When it comes to the Lightning component, you’re routing through bitcoin,” Elizabeth Stark, Lightning Labs’ co-founder and CEO, told The Block. “You’re literally doing a conversion from dollars to bitcoin back to dollars.” She clarified that by “dollars,” she meant a stablecoin pegged to the price of the dollar.
Both Brevan Howard and NYDIG — which helps institutions expand into crypto with a range of custody and trading tools — are doubling down on the Lightning Network. In October last year,, a Lightning Network payments firm, for $300 million. Former Brevan Howard CEO Alan Howard has previously invested in the startup.
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