- Litecoin (LTC) integrated into Spend app
- Litecoin (LTC) now accepted by more than 40 million merchants
- The altcoin spiked almost 30 percent last week
Litecoin (LTC) seems to be on an immense charge lately, as according to a tweet by mobile payment app Spend, on February 10, 2019, the digital token can now be used to buy, sell, and trade goods and services at more 40 million locations.
LTC Riding the Lightning
Litecoin emerged as the biggest gainer from last week’s crypto mini-rally which saw virtually all the digital tokens crawl towards green pastures. Major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH), and Litecoin (LTC) rallied to post impressive short-term gains.
Among the aforementioned cryptocurrencies, however, it was Litecoin that spiked almost 30 percent.
Now, with the mobile payment app Spend embracing LTC, things look more clear for the altcoin. Spend enables users to access a multi-currency digital wallet on the mobile phones after linking it to a bank account. Further, users also have the option to instantly store and spend LTC through the Spend Visa Card. The card allows them to instantly convert crypto into fiat.
Spend leverages Visa’s network of merchants by allowing millions of unbanked individuals the world over to get into the cryptoverse.
Litecoin is now available on the #SpendApp. You can buy, sell and #PayWithLitecoin with your linked bank account. Spend #LTC at 40+ million locations with the Spend Wallet by instantly converting to fiat with the #Spend Visa® Card!@SatoshiLite @LTCFoundation @LiteCoinNews pic.twitter.com/LC3gC54xUP
— Spend.com (@SpendCard) February 11, 2019
Per the team at Spend, the app acts as a bridge to close the gap between users and an open financial system. The team said:
“We are a firm believer in the fourth industrial revolution and the digitization of currencies. There are tremendous benefits for users worldwide to have control of their finances and to create an alternative financial solution for those who don’t have access to banking, which currently totals two billion people worldwide.”
Spend app has a massive network of banks the world over and allows users to buy or sell more than 16 cryptocurrencies instantly from a bank account. The app facilitates users to transfer funds to more than 180 banks globally.
The conversion process in the app works in the following manner.
First, all cryptocurrency, i.e. BTC, ETH, XRP, LTC, and others, is converted into fiat (USD, Euro, Japanese Yen). Then, the converted fiat is loaded onto the Visa card of the app which allows users to make the purchases and ATM withdrawals.