Binance, a leading cryptocurrency exchange, has announced the establishment of Lightning nodes on the Bitcoin network. This move is aimed at facilitating the provision of Lightning-based Bitcoin deposit and withdrawal services to its users, as per a recent tweet from the company.

Binance is in the process of integrating the Bitcoin Lightning Network for deposits and withdrawals. The exchange has confirmed that while the Lightning nodes are already in place, additional technical work is required before the integration is complete.

The Lightning Network, often referred to as a “second layer” of the Bitcoin blockchain, is designed to expedite transaction times and alleviate network congestion. It accomplishes this by creating payment channels that conduct off-chain transactions between users, with fees amounting to just a few cents.

In May, Binance announced its intention to integrate the Lightning Network to simplify deposit and withdrawal activities for its users. This announcement came at a time when Binance had temporarily suspended Bitcoin withdrawals due to network congestion, which raised concerns among users about the exchange’s reserve funds.

Several other exchanges, including Kraken and Bitfinex, already offer Lightning Network services to their users. Coinbase CEO Brian Armstrong also hinted in an April tweet that the exchange might offer Lightning Network services to its users in the future.

As of Tuesday morning, the Lightning Network holds just under $145 million worth of Bitcoin intended for quick payments.