This app features a standalone SPV Bitcoin node with a fully functional built-in Lightning node. It allows for sending and receiving of regular on-chain transactions as well as off-chain Lightning payments.
It is crucial to understand that Lightning Wallet is a standalone app, it is not a thin client to a centralized service.
This most importantly means that your money is stored right on your phone and nowhere else which gives you a ultimate censorship resistance: no one can ‘freeze your account’ or cancel your transactions, but at the same time this makes you the only one responsible for securing your funds.
Thankfully, this wallet is designed in such a way that money won’t be lost no matter what if you do everything right. Please be sure to read the Essential App Guide if you do want to use this app!
Also check out Joint project which is a set of solutions to simplify Lightning integration for exchanges.