- Lightspark, a Bitcoin infrastructure company, has launched Grid Global Accounts, an enterprise banking product for platforms to offer branded accounts, stablecoins, and VISA cards.
- The service, led by CEO David Marcus, aims to turn global payout costs into a revenue source for businesses while handling regulatory complexity through partner banks.
- The launch reflects a shift from Lightspark’s original Lightning Network focus and enters a market with competitors like Circle and Stripe-acquired Bridge.
- The product is also designed for the future, with features to create auditable operating pockets for AI agents with spending controls.
On Tuesday in Los Angeles, David Marcus‘ company Lightspark unveiled Grid Global Accounts, a new enterprise banking product. This launch allows platforms to embed branded dollar accounts and financial services directly into their offerings.
Marcus, who previously led projects at Paypal and Facebook‘s Libra, argues the technology and regulatory landscape are now mature enough. Consequently, his company’s product helps businesses avoid the burdens of becoming banks themselves.
“Global payouts are a huge cost for businesses,” says Marcus. “With Grid Global Accounts, we’ve created opportunities for these businesses to turn this big cost structure into a revenue source.”
Platforms can issue their own stablecoins and earn yield on the reserves backing them. They can also earn transaction fees and instantly convert between dollars, stablecoins, and bitcoin within the account.
Behind the scenes, Lightspark manages complexity through a network of FDIC-insured partner banks. These relationships cover licensing, compliance, and regulatory reporting for clients.
The company, founded in 2022 to build Lightning Network infrastructure, has raised $175 million. Lightspark now handles billions in payment volume for companies including Tether, Nubank, and SoFi.
Marcus also positions Grid for the rise of AI agents, allowing for auditable operating pockets with constraints. “The interfaces that have been built for clumsy humans are going to be replaced with interfaces for agents,” he states.
However, Lightspark enters a crowded field with several companies pursuing similar opportunities. Key competitors include stablecoin heavyweight Circle and Bridge, the infrastructure platform acquired by Stripe last year.
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