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 (LTC) and Bibox Exchange’s and Ternio’s native tokens bibox token (BIX) and ternio (TERN) respectively.
Within
the project, Bibox Exchange will act as the custodian of users’ funds
and leverage over $200 million worth of cryptocurrency trading volume.
Ternio will provide a dedicated platform. 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. The firm is ostensibly
seeking someone to fill the position of Technical Product Manager at
Visa Fintech at its Palo Alto office. The position’s description states
that a candidate should have an in-depth understanding of distributed
ledger technology and the crypto industry.
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