Bitcoin Lightning Network company Neutronpay has secured a $1.5 million bridge funding round led by Axiom Capital, according to a press release sent to Bitcoin Magazine. This investment is to help Neutronpay bring instant and cost-effective payment solutions in Southeast Asia’s digital economy with Bitcoin.
“We are delighted to continue to support Albert and the team as they prove out the utility of Lightning infrastructure in Southeast Asia,” says Allen Farrington on behalf of Axiom. “We expect to see a continued normalization of the superiority of the Lightning Network over legacy fiat banking rails for a range of payment categories and are happy to back Neutronpay as one of the foremost companies at the cutting edge of this technology.”
Axiom Capital’s support reflects their confidence in Neutronpay’s ability to demonstrate what advantages the Lightning Network can bring to Southeast Asia, as this technology is expected to outshine traditional fiat banking rails for various payment categories.
“This pivotal milestone marks a significant expansion of our operations across South East Asia and beyond, venturing into the dynamic markets of Northern Asia,” said Albert Buu, Founder & CEO of Neutronpay. “By leveraging the unparalleled potential of the Lightning Network, we are not just fostering faster and more efficient transactions, but also unlocking new possibilities in the digital economy.”
Neutronpay also stated it recognizes the importance of cultural integration in Southeast Asia, so the company is taking an approach to extend beyond financial transactions and are aiming to align with the region’s cultural and economic narratives.