Stacked's New Lightning Wallet: A Bold Move in New Zealand's Shrinking Crypto Scene

JUST IN: Stacked, once known as Lightning Pay, is making waves by launching a self-custodial Lightning wallet. This move positions it as the last major non-custodial Bitcoin exchange in New Zealand. The crypto scene in the country has shifted dramatically, with mergers and bankruptcies leaving few players standing.

The Rise of Stacked

Formerly Lightning Pay, Stacked has been around for a while, but recent events have thrust it into the spotlight. New Zealand's crypto market saw significant consolidation. Big names like EasyCrypto got snapped up by larger, custodial-focused companies. The custodial trend is strong, with platforms like Sharesies following the Robinhood model, leaving no room for self-custody.

Stacked wasn't deterred. Instead, they doubled down on their core philosophy of making Bitcoin practical as money. Launching their self-custodial wallet, they offer users more than just a place to buy and sell. Want to pay your utility bills? Or maybe your rent? Stacked has got you covered, using New Zealand's Open Banking payments to bridge Bitcoin with everyday expenses.

The Impact: Who's Winning and Losing?

This changes things. By offering a self-custodial option, Stacked stands out in a market flooded with custodial solutions. Users keep control of their assets, a key draw for Bitcoin purists. The wallet isn't just about storage. it's a full Lightning Network experience. And with no capital gains tax in New Zealand, Bitcoin profits are treated as income, making self-custody even more appealing.

But the road's not without bumps. Larger exchanges focus on ease and compliance, drawing in users who prioritize convenience over control. Can Stacked convince New Zealanders that self-custody is worth it? With nearly half of the population considering digital assets, there's definitely a market. But convincing them to embrace self-custody is another story.

Traders are watching closely. Stacked's unconventional path could either cement its status or prove too niche in a market favoring bigger custodians.

Looking Forward: The Future of Kiwi Crypto

Here's the thing: Stacked is betting on a future where Bitcoin isn't just an investment but a utility. Their strategy is bold, focusing on the Bitcoin Basin in Queenstown, fostering a local Bitcoin economy. They're not just a business. they're building a community, hosting events and creating avenues for Bitcoin use.

The numbers are promising. In 2025, 227,000 Kiwis were crypto users, with exchange volumes hitting NZ$7.8 billion. Stacked estimates the market will generate over US$200 million in 2026. Their success could hinge on more than just providing a service. it might redefine how New Zealand views and uses Bitcoin.

So, what's next? Will Stacked's vision catch on, or will the custodial giants reign supreme? The market's verdict will tell us soon enough.