Blockstream, a company known for its Bitcoin infrastructure, announced the opening of a research and development hub in Lugano, Switzerland. This project aims to advance financial technology innovations centered around Bitcoin.
Opening of the Hub in Lugano
Blockstream, led by British cryptographer Adam Back, announced the new R&D hub on November 7. Lugano was chosen as the location following the unveiling of a statue dedicated to Bitcoin creator Satoshi Nakamoto by Tether and the City of Lugano.
Partnerships and Project Support
The hub aims to foster innovation on blockchain's second layers by collaborating with local startups and partners. It will provide resources, mentorship, and grants to outstanding projects.
Financial Support and Development
Blockstream's initiative follows the co-hosting of Bitcoin-related events in Lugano and Viareggio, Italy. The company recently secured $210 million in debt funding to bolster Bitcoin's layer-2 growth. The funds will also expand its Bitcoin treasury and enhance its mining operations.
The opening of the R&D hub in Lugano strengthens Blockstream's position in Bitcoin technology, allowing for further innovation and contributions to the Bitcoin ecosystem.
