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Lightning Labs has just raised $70 million to support a protocol it has created called Taro, which will allow stablecoins to be transferred over the Bitcoin Lightning Network. Taro is based on the Lightning Network, a layer 2 protocol that enables high-speed transactions on the Bitcoin blockchain by opening payment channels between addresses. Thus, this new protocol shows Bitcoin and the Lightning network as competitors to both the SWIFT financial messaging system and the commercial banking…
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