Today, Boltz, a leading cryptocurrency exchange, made a groundbreaking announcement by launching the Boltz BTCPay Plugin, the first of its kind in the industry, now available in open beta. This innovative plugin allows merchants using BTCPay Server to seamlessly accept bitcoin payments over the Lightning Network, which are automatically swapped and stored non-custodially on the Liquid Network.
The Boltz BTCPay Plugin introduces a unique “Nodeless” mode that leverages Liquid Swaps to facilitate instant and automatic swaps from Lightning to Liquid as soon as a Lightning invoice is paid. With this feature, users can also easily swap bitcoin back to the mainchain if they choose to do so. The plugin also comes equipped with an integrated wallet system, enabling users to create or import both Liquid and mainchain wallets.
Kilian, the CEO of Boltz, explained, “Merchants can now receive bitcoin payments by seamlessly swapping incoming Lightning transactions into their Liquid wallets, eliminating the need to operate a node. This way, they can hold LBTC (Liquid BTC) in the end.” Furthermore, he added, “We also provide them with the option to automatically swap back to the mainchain based on their specified thresholds.”
Importantly, merchants retain full control over their funds throughout the entire process, ensuring maximum security and autonomy. The Boltz BTCPay Plugin was specifically designed to alleviate the complexities and challenges associated with running and managing a Lightning node.
Michael, the CTO of Boltz, emphasized, “Running and managing a Lightning node can be a daunting task. Channel management and inbound liquidity can be quite challenging for many users.” Kilian echoed this sentiment, acknowledging that running a Lightning node is not feasible for most individuals, including professional merchants.
Unlike previous solutions that required users to rely on custodial services or introduced counterparty risks, the Boltz BTCPay Plugin offers a non-custodial and secure alternative for accepting Lightning payments without the need for running a node. The team at Boltz cautioned users to exercise caution when using the plugin, as it is still in the beta phase and may contain bugs.
Despite being a new release, the plugin has already garnered significant praise from early adopters. Alan, the CEO of Strainly, an online marijuana vendor, shared his positive experience, stating, “After testing the Boltz plugin for a month, I can confidently say that this is a game-changer. Processing Lightning payments directly to and from a non-custodial Liquid wallet, along with automatic consolidation of the Liquid balance to my non-custodial BTC wallet based on my preset thresholds, has been a game-changer for my business.”
Overall, the Boltz BTCPay Plugin represents a significant advancement in the cryptocurrency industry, offering merchants a secure, efficient, and user-friendly solution for accepting Lightning payments without the complexities of running a Lightning node.