Voltage Launches Line of Credit Settled in USD
What happened
Bitcoin infrastructure company Voltage has launched Voltage Credit, a revolving line of credit program. The product is designed to offer Bitcoin payment finality with USD settlement. This represents a new financial product aimed at bridging traditional finance with the Bitcoin ecosystem.
Why it matters
- The credit line's underwriting is based on a company's payment volume processed through Voltage's infrastructure, a model that differs from traditional banks which typically do not recognize Bitcoin-denominated revenue for underwriting. - This approach also contrasts with existing crypto lending products that usually require businesses to lock up their own Bitcoin as collateral. - Voltage was founded in October 2020 by CEO Graham Krizek, who previously worked as a senior software engineer at Salesforce and has a background in cloud architecture. - The company is based in Wichita, Kansas, and raised $6 million in a seed funding round in January 2022. - The seed round was led by Trammell Venture Partners and included participation from Craft Ventures, GV (formerly Google Ventures), and others. - Voltage's client roster for its broader Bitcoin and Lightning Network infrastructure services includes companies like THNDR Games, Podcast Index, Amboss, Carrot, and Satsback.com. - The company utilizes Google Cloud to deploy its Bitcoin and Lightning nodes globally, enabling them to service a worldwide customer base. - Prior to the credit line launch, Voltage facilitated a $1 million Lightning Network transaction between Secure Digital Markets and crypto exchange Kraken, demonstrating institutional-scale settlement capabilities.
Key numbers
- Voltage was founded in October 2020 by CEO Graham Krizek, who previously worked as a senior software engineer at Salesforce and has a background in cloud architecture.
- The company is based in Wichita, Kansas, and raised $6 million in a seed funding round in January 2022.
- Prior to the credit line launch, Voltage facilitated a $1 million Lightning Network transaction between Secure Digital Markets and crypto exchange Kraken, demonstrating institutional-scale settlement capabilities.
What happens next
- Prior to the credit line launch, Voltage facilitated a $1 million Lightning Network transaction between Secure Digital Markets and crypto exchange Kraken, demonstrating institutional-scale settlement capabilities.
Quick answers
What happened in Voltage Launches Line of Credit Settled in USD?
Bitcoin infrastructure company Voltage has launched Voltage Credit, a revolving line of credit program. The product is designed to offer Bitcoin payment finality with USD settlement. This represents a new financial product aimed at bridging traditional finance with the Bitcoin ecosystem.
Why does Voltage Launches Line of Credit Settled in USD matter?
The credit line's underwriting is based on a company's payment volume processed through Voltage's infrastructure, a model that differs from traditional banks which typically do not recognize Bitcoin-denominated revenue for underwriting. This approach also contrasts with existing crypto lending products that usually require businesses to lock up their own Bitcoin as collateral. Voltage was founded in October 2020 by CEO Graham Krizek, who previously worked as a senior software engineer at Salesforce and has a background in cloud architecture. The company is based in Wichita, Kansas, and raised $6 million in a seed funding round in January 2022. The seed round was led by Trammell Venture Partners and included participation from Craft Ventures, GV (formerly Google Ventures), and others. Voltage's client roster for its broader Bitcoin and Lightning Network infrastructure services includes companies like THNDR Games, Podcast Index, Amboss, Carrot, and Satsback.com. The company utilizes Google Cloud to deploy its Bitcoin and Lightning nodes globally, enabling them to service a worldwide customer base. Prior to the credit line launch, Voltage facilitated a $1 million Lightning Network transaction between Secure Digital Markets and crypto exchange Kraken, demonstrating institutional-scale settlement capabilities.
