The Litecoin foundation recently announced that it has partnered with BlockFi, a crypto leading startup. The partnership is intended to promote the use of BlockFi’s range of products to provide Litecoin users with more options such as earning interest on and borrowing against their Litecoin used within their platform.

The foundation noted that this collaboration will produce additional options and liquidity opportunities. It will grant them the ability to use a USD loan using Litecoin as collateral. It will also give them the opportunity to earn interest in LTC held in an account on the BlockFi platform.

Litecoin’s project director, David Schwartz, mentioned that the partnership was a valuable to the strategy of diversification of Litecoin. He added that, by collaborating with BlockFi, the Litecoin foundation recognizes its positive contributions and the range of products they provide customers.

BlockFi also noted in their official announcement that partnering with Litecoin is a natural step to ensure that the most value is being delivered to Litecoin users.

BlockFi’s CEO and founder, Zac Prince said that the addition of Litecoin was a mutual relationship. He mentioned that, BlockFi is excited to support Litecoin across its platform and welcomes the Litecoin community to use their unique range of products.

Featured image courtesy of Blockfi.com