© Reuters.

Synonym Software Ltd., a company founded by stablecoin issuer Holdings Limited, officially launched on Tuesday, setting in motion a highly ambitious project to bring (BTC) transactions mainstream through an independent financial platform that utilizes the Lightning Network.

Synonym’s stated goal is to enable self-ownership and control of crypto assets by creating an open financial ecosystem that utilizes Bitcoin and the Lightning Network, the company announced Tuesday. CEO John Carvalho said “Hyperbitcoinization won’t magically happen on its own. In order to live in a world without big banks, oppressive regulations, or Big Tech presiding over our lives, we need a strategy and ecosystem to replace the legacy economy. That is where Synonym comes in.”

The number of Lightning Network nodes has increased sharply over the past two years. Source: Bitcoin Visuals