Blockstream opens R&D center in Lugano: report

Bitcoin and blockchain technology firm Blockstream has launched a research and development center in Lugano, Switzerland, according to CoinDesk.

Blockstream, one of the leading Bitcoin (BTC) infrastructure firms, announced the R&D center on November 7, stating that the project will help support financial technology innovation around Bitcoin. Lugano is where Tether and the City of Lugano recently unveiled a new statue for Bitcoin creator Satoshi Nakamoto.

Notably, the company, led by British cryptographer and one of the Bitcoin OGs, Adam Back, sees the startup as key to BTC’s Liquid and Lightning networks.

“The new center aims to significantly increase innovation at tier 2 by collaborating with local initiatives and partners, providing resources, mentoring and awarding grants to outstanding projects.”

-Blockstream.

Blockstream’s launch of its R&D center comes after the firm co-hosted recent BTC-related events in Lugano and Viareggio, Italy.

Specifically, Blockstream’s initiative targeting the broader Bitcoin finance ecosystem comes just weeks after the company secured $210 million in debt financing to support Bitcoin layer-2 growth. The company also planned to use the funds to expand its BTC treasury and level up its bitcoin mining operation.

In August 2023, the firm announced plans to raise $50 million for its crypto mining venture.

Before that, Blockstream raised $125 million in January 2023, and the company’s plans focused on expanding its mining colocation services. The platform launched Liquid Network, a platform for inter-exchange payments between exchanges, market makers and brokers, in September 2018.

The company’s wallet, Blockstream Green, allows users to store their BTC.

With the desktop version, you can track prices, monitor fees, and edit UTXOs. Greenlight by Blockstream is another platform that helps developers easily integrate non-custodial BTC payments into their applications.