Binance, a crypto exchange, announced today that it has set up Lightning nodes to the Bitcoin network in order to offer Lightning-based bitcoin withdrawal and deposit services to its users. This was according to a Tweet from Tuesday.

The exchange said that it was working on integrating the Bitcoin Lightning Network to allow deposits and withdrawals. There’s more work to do in the tech department. Once Lightning is fully integrated, we’ll update.

Lightning Network is called a “second-layer” of the Bitcoin Blockchain. It speeds up transactions and reduces network congestion. This is achieved by creating payment channels which conduct transactions off-chain between users for a fee of just a few cents.

Binance announced in May that it would integrate with the Lightning network, to make depositing and withdrawing easier for users. Binance temporarily halted bitcoin withdrawals at the time, citing network congestion. This caused users to be concerned about the exchange’s reserves.

Coinbase CEO Brian Armstrong hinted in an April tweet, that the exchange will offer Lightning Network to users in future.

data indicates that as of Tuesday morning the Lightning network held just under $145,000,000 worth of bitcoin intended for quick payments.

Oliver Knight is the editor.