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.
- 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.
