Major United States-based cryptocurrency exchange Kraken has announced on Wednesday that it will integrate the Bitcoin Lightning Network in 2021. Kraken emphasized that the integration will drive significant improvements in speed and fees, claiming that Lightning allows Bitcoin (BTC) “to process millions of transactions per second."
Speaking to Cointelegraph, Kraken’s lead Bitcoin strategist, Pierre Rochard, revealed that Lightning will first be integrated for withdrawals during the first half of 2021, bringing down transfer fees from roughly $10 per transaction to about one penny — just enough to prevent spam transactions — and allowing "instant" withdrawals.