LUD21: A proposal for currencies on payRequest

In a recent proposal, the integration of a currency list into the payRequest LNURL has been suggested, promising to introduce several innovative features to enhance user experience. One significant advantage is the ability for users to create invoices denominated in various currencies which will be determined by the exchange rate provided by target wallets. This flexibility extends to receivers as well, who would have the option to indicate their preference to convert the received Bitcoin into another currency at the time of payment.

Furthermore, this update would facilitate services on the sender's end to communicate exchange rates when currencies other than Bitcoin are used, thereby promoting transparency and convenience. At its core, the proposal aims to emulate a remittance-like service within the Lightning Network ecosystem, capitalizing on the LNUrl protocol to streamline cross-currency transactions.

The practicality of generating invoices that align with the target wallet’s exchange rates represents a substantial benefit, simplifying international payments and potentially broadening the scope of the Lightning Network. To contribute to this discussion or view the specifics of the proposed changes, feedback is encouraged on the GitHub pull request found here.

Additionally, Bipa has already begun working on an implementation of this feature, which can be explored further through their platform at the provided link (bipa.app/.well-known/lnurlp/lorenzolfm). Collaboration and interest from other services or wallets are welcomed to advance support for this functionality, indicating an open invitation for community involvement in the development process.