Meta’s former crypto boss launches Bitcoin payments startup Lightspark

David Marcus, former cryptocurrency project boss at Meta, has launched a cryptocurrency company called Lightspark.

Lightspark aims to harness the capabilities of crypto for the payments area.

Marcus took on some of the former Meta employees for this startup.

Marcus explained that Lightning Network (LN), the second layer scalability protocol for Bitcoin, will be involved.

While the company is still in exploratory phases, Marcus has been able to attract major names in the VC arena, including A16z and Paradigm, who have co-led an initial investing round with an undisclosed amount raised.

Other VCs that participated in the round include Thrive Capital, Coatue, Felix Capital, Ribbit Capital, Matrix Partners, and Zeev Ventures.

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