David Marcus, the Lightspark co-founder and chief executive, said Bitcoin’s next wave of growth will come from acting as invisible settlement infrastructure for banks and payment networks. That matters more than consumers spending Bitcoin directly at checkout.
Key Takeaways:
- SoFi and JPMorgan are already building financial products directly on top of Bitcoin.
- Lightspark’s Spark network lets stablecoins settle directly on top of Bitcoin in real time.
- A decentralized network without a single operator is harder to shut down than a corporate chain.
Marcus shared his outlook in an interview with CoinShares, the digital asset manager behind the CoinShares Bitcoin ETF (BRRR ). He compared Bitcoin’s path to early internet protocols, noting that people don’t think about SMTP or TCP/IP when they send an email. Payment networks built on Bitcoin could reach that same invisibility.
See more: Bitcoin Could Become Collateral for Generational Wealth
Marcus founded Lightspark in 2022, after years in payments that included stints at PayPal Holdings, Inc. (PYPL) and Meta Platforms, Inc. (META). Lightspark first built on the Bitcoin Lightning Network. It has since shifted focus to Spark, a Bitcoin layer-two network. Spark lets Lightspark issue stablecoins directly on top of Bitcoin.
Marcus said Bitcoin’s reputation as a store of value is a prerequisite for its payment utility. Banks and other institutions need deep liquidity before they will route large cross-border transactions through the network.
Marcus pointed to two signs of that shift. SoFi Technologies, Inc. (SOFI) already uses Bitcoin rails to move money for customers across borders. JPMorgan Chase & Co. (JPM) said it would accept Bitcoin as collateral for mortgages.
Why Banks Are Building on Bitcoin
Lightspark’s acquisition of Striga gave it access to Europe’s SEPA instant payment system, Marcus said. Existing ties to FedNow and RTP in the U.S. let money move between the two regions in real time. Bitcoin works as the settlement layer the whole way, without either side touching the asset directly.
Revolut’s decision to adopt Lightspark’s network marked another step toward that goal, added Marcus . Each new digital bank that joins strengthens the network effect and draws in the next one.
Marcus contrasted Bitcoin’s structure with Meta’s shelved Libra project, which he worked on before it was shut down amid regulatory pressure. A project tied to one company stays vulnerable to a single regulatory decision, while Bitcoin has no central party for regulators to target.
Even with that conviction, Marcus said that he still prefers holding his own Bitcoin through self-custody over other methods. But the smartest approach for most investors combines self-custody with custodial services and regulated products such as ETFs. According to Marcus, those tools make it easier to gain exposure without managing a wallet.
For more news, information, and strategy, visit the CoinShares Crypto ETF Hub.
