Relai, a Bitcoin-only app based in Switzerland, is set to introduce Lightning payment functionality to its users through its integration with Blockstream’s Greenlight solution. The collaboration between the two companies will see Blockstream’s Lightning-as-a-service solution integrated into Relai’s Bitcoin-only wallet platform. With the introduction of Greenlight, over 100,000 Relai users will be able to make low-cost Bitcoin payments using the Lightning Network while maintaining control of their private keys. This integration also eliminates the need for Relai to develop and maintain its own Lightning infrastructure.
Blockstream launched Greenlight in June 2023 as an alternative service for developers and platforms to offer fast and low-fee Bitcoin payments. The service relies on Blockstream’s infrastructure while ensuring that users have control over their private keys. Unlike custodial solutions, which prioritize convenience but compromise security and privacy, noncustodial solutions like Greenlight prioritize security and privacy while requiring more technical and operational resources.
Greenlight’s approach involves splitting nodes into smaller components that operate independently. By using Core Lightning as the base implementation, Greenlight allows all operations involving private keys to be performed on the user’s device. The remaining node and operational needs are handled by Blockstream’s infrastructure. This architecture ensures that only users can initiate operations involving their funds, preventing any control or access from the infrastructure operator or others.
Relai, founded in 2020 with a focus on Bitcoin trading and custody, has seen significant success, generating over $300 million in trading volume over the past four years. The decision to introduce Lightning payments comes as major exchanges, including Coinbase, aim to enhance their Bitcoin payment functionality. In September 2023, Coinbase, the largest exchange operator in the United States, announced its plans to integrate Bitcoin Lightning payments into its services. Coinbase CEO Brian Armstrong highlighted Bitcoin’s importance in the cryptocurrency ecosystem and emphasized that Lightning functionality would facilitate faster and cheaper BTC transactions.