This week saw the launch of a virtual Visa debit card with native Litecoin support. Its issuer is BlockCard.
As stated on the product’s website, among existing offerings the new card is the only one where deposited funds are converted and stored in LTC until cashing out.
Funds can be loaded onto the card in 12 cryptocurrencies: in addition to Litecoin, these include Bitcoin, Bitcoin Cash, Basic Attention Token, Dai, Ethereum, Paxos Standard, Stellar Lumen, Ternio, Tether, TrueUSD, USD Coin and XRP.
At present the card is available to US residents, with support expected in 31 European countries. To start using Litecoin Card, users will need to undergo verification.
Earlier, the previous attempt to launch a Visa debit card with native Litecoin support proved unsuccessful. Such a card was planned as part of the LitePay processing service.
At the time, the eponymous LitePay company claimed that the service’s launch was derailed by “hostile actions of payment-card issuers against cryptocurrency companies.”
However, it later emerged that LitePay’s CEO Kenneth Asare had approached the Litecoin Foundation for additional funding, which the organisation declined due to opaque budgeting and a dubious management process.
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