The Litecoin Foundation has announced a partnership with Bibox Exchange and blockchain firm Ternio to release a physical cryptocurrency debit card, in a blog post on June 18.
Per the post, the companies will jointly roll out a cryptocurrency debit card dubbed "BlockCard" that will purportedly let users spend their cryptocurrency funds both online and in physical store locations around the world.
Customers will be able to keep cryptocurrencies such as litecoin and Bibox Exchange's and Ternio's native tokens bibox token and ternio respectively.
Within the project, Bibox Exchange will act as the custodian of users' funds and leverage over $200 million worth of cryptocurrency trading volume.
The Litecoin Foundation and Bibox Exchange will integrate the card directly into the Bibox Exchange and Litecoin's official wallet, LoafWallet.
"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. Leveraging Ternio's BlockCard platform with Bibox's exchange engine gives Litecoin holders unparalleled access to use their LTC at merchants around the world."
The Litecoin Foundation thus joins several other industry players that have rolled out digital currency debit cards.
Just recently, American crypto exchange Coinbase launched its Visa debit card in six European countries.
Coinbase's new offering purportedly allow users to spend cryptocurrencies they hold at any merchant that accepts Visa cards.
In March, Visa itself published a crypto and blockchain-related job opening.
Litecoin Foundation to Release Physical Cryptocurrency Debit Card
Published on Jun 18, 2019
by Cointele | Published on Coinage
Coinage
Mentioned in this article
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.