Lightning labs, the Bitcoin software firm, has been able to secure a large amount of investment that enables them to further develop the Lightning network through which people can conduct transactions using stablecoins and Bitcoin in a cheaper and faster way.
The Series B funding round was conducted by Valor Equity Partners in addition to Goldcrest Capital, Baillie Gifford, and other multiple angel investors. Lightning Labs is the layer-two transaction solution of Bitcoin, and it also creates additional features for the software Lightning Network (LN).
A new protocol named Taro has been created in which the newly acquired funds will be invested, and this protocol will enable the stablecoins to be transferred using the Lightning Software network. Stablecoins will not be issued by the Lightning Labs, but their infrastructure will enable them to transact using stablecoins.