Stone Ridge Launches A Program For The Bitcoin Lightning Network

Stone Ridge, a multibillion-dollar fund manager, has announced a Bitcoin Lightning startup incubator.

The Wolf accelerator program is now accepting applications for its inaugural batch. Each startup will get $250,000 in investment as well as consulting services from Stone Ridge and its sister business NYDIG, which focuses on institutional bitcoin services.

Other venture capitalists and Bitcoin-focused firms will also look for prospective investments and consulting services for cohort members. Only enterprises based on Lightning and Taro, which enable the creation of new digital assets such as tokens or collectibles on Bitcoin, will be allowed to participate in the initiative.

The Lightning Network has enjoyed consistent acceptance up to this time. Nonetheless, according to Volt Capital venture partner Mohamed Fouda, it has encountered various hurdles in determining which company prospects and paths make the most sense for long-term success.

This incubator’s applications might include liquidity hubs to collect routing fees, integrations and user services to broaden Lightning Network’s reach, and payment rails that leverage it as the core infrastructure.

Last month, Stone Ridge sent notice to the US Securities and Exchange Commission that it would be liquidating its Bitcoin Strategy Fund.

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