Lightning Labs' submarine swap protocol Loop got a new update, enabling users to "loop out" (i.e. perform a reverse submarine swaps, where they send Lightning funds and receive on-chain coins) to an external wallet. To do so, the external xpub must first be registered and given a custom name in the loop client. Then, any loop out can be made to a new address derived from this xpubs, even when "autolooping" (where the loop client follows a set of rules and thresholds to automatically perform swaps, for example to rebalance channels).

This new feature could prove extremely useful in a variety of situations, by performing in only one transaction what previously required two. For example, putting coins back to cold storage ; or in multiple nodes setups, where the loop-out of one node could feed another node's on-chain wallet

The update Source