Altcoin News: Litecoin Foundation to Release a Debit Card

June 19, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The Litecoin Foundation on Tuesday announced the start of cooperation with the Bibox exchange and the blockchain-company Ternio, within which a debit card will be issued for spending cryptocurrencies.

According to publications in the blog Litecoin Foundation, the card will be based on the existing platform Ternio called BlockCard. In addition to LTC, you can use the card to pay with BIX and TERN tokens.

Initially, the card will be available only to residents of the United States, but in the future, its creators plan to expand their service to other jurisdictions.

Bibox will act as custodian of user funds. In addition, the card will be integrated with the official Litecoin LoafWallet wallet.

“ This is an exciting partnership for us as it furthers the Litecoin Foundation’s mission to create more use cases for spending Litecoin in everyday life,” said Charlie Lee, creator of Litecoin and Managing Director of the Litecoin Foundation. “Leveraging Ternio’s BlockCard platform with Bibox’s exchange engine gives Litecoin holders unparalleled access to use their LTC at merchants around the world.”

Information about what needs to be done to get a card will be provided in the coming weeks. Notifications will be sent through the LoafWallet app for iOS and Android.

In the meantime, Litecoin remains a little over 47 days before the Halvening. During the last week, the growth of cryptocurrency has slowed, whereas for the month it was about 50%.

Author: Marko Vidrih