Secure Digital Markets (SDM) has completed a $1 million Bitcoin transaction over the Lightning Network in a pilot settlement with cryptocurrency exchange Kraken, marking what the firms say is the largest publicly reported Lightning payment to date.

The transaction, executed on Jan. 28 and valued at $1 million at the time, settled nearly instantly and with minimal fees.

It was facilitated using enterprise Lightning infrastructure from Voltage, a Bitcoin payments and infrastructure provider focused on institutional clients.

Lightning is a second-layer network built on Bitcoin that enables faster and cheaper payments by moving transactions off the base blockchain. 

While it has been…

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