Bitcoin Beach Wallet Creator Raises $3M

The creator of the Bitcoin Beach wallet in El Salvador has raised $3 million in a new seed round, the company said in a statement Wednesday. Galoy, a developer of Bitcoin banking software, worked closely with the Bitcoin Beach community to help them to use BTC as money for daily transactions, empowered by the Lightning Network.

“The suite of Galoy solutions enables any community, company or government to offer banking services using Bitcoin and Lightning,” per the statement.

Kingsway Capital, Trammell Venture Partners, and Balaji Srinivasan joined the company in its mission to accelerate Lightning adoption through the company’s open-source Bitcoin banking platform.

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