Litecoin Foundation announced that it has teamed up with Bibox Exchange and white-label blockchain tech company Ternio to release a ‘limited-edition’ physical cryptocurrency debit card, called BlockCard.
Litecoin (LTC) has also seen its highest price in over a year (over $125) – rising to this years highest as of publishing at just over $145 on June 22nd.
Welcome to our second bi-weekly roundup of the most discussion-worthy news content related to Litecoin (LTC), the Litecoin credit card, and in addition to a brief look at periodical price movements.
Litecoin Foundation to Release Physical Cryptocurrency Debit Card
The card supporting Litecoin will see direct integration into the Bibox Exchange and LoafWallet, a standalone Litecoin wallet for iOS and Android. This means that users can access their cards and allow them immediate access to spend on these platforms.
Through partnership with VISA, the card will act like any traditional debit card – which means that customers can use it to spend the value of their crypto, including Litecoin in any store worldwide (online and physical stores) “where major credit cards are accepted”. This includes Litecoin (LTC), Bibox Token (BIX), and Ternio (TERN).
Payment is deducted from the user’s Litecoin cryptocurrency card balance, then converted in real time to fiat and sent to the merchant.
Bibox Exchange will be leveraging a reported $200+ million value crypto trading volume in this partnership to act as the custodian of all user funds, and will support the routing of deposits and spending for users.
Customers residing in the United States will be the first to be eligible for these Litecoin cards, with the rest of the world following shortly thereafter.
BlockCard comes from Ternio and is a virtual debit card for cryptocurrencies, with this physical edition being the first of its kind for the company. It isn’t the first of its kind for Litecoin however, which had previously attempted something similar with the LitePay card.
Aries Wang, Co-Founder of Bibox
“Bibox has always positioned ourselves as being on the forefront of crypto adoption,”
“By partnering with the Litecoin Foundation and Ternio we are able to leverage Bibox’s robust exchange platform to help bring consumers more options to spend cryptocurrency with unprecedented ease”
Charlie Lee, creator of Litecoin and Managing Director of the Litecoin Foundation
“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.”
Charlie Lee Joins Warren Buffett Lunch With Justin Sun (TRON)
Justin Sun, CEO of TRON has invited Charlie Lee to be one of multiple guests that will join him for a private lunch with business magnate Warren Buffett. The tweet concludes that there are “more friends to be announced”.
It didn’t take long for Lee to accept this invitation, posting a reply tweet in which the Litecoin creator iterated his excitement for what he called the “opportunity to meet a legend.”
Sun secured the lunch with Buffett at a charity auction on May 31st 2019, with a winning bid of $4,567,888. On June 27th 2019, he followed up with the news that the date and location had been confirmed: July 25th 2019 at three-Michelin star restaurant Quince in Silicon Valley.
This marks the first time that one of these yearly lunches with Warren Buffett has been held at any location other than Smith & Wollensky in New York.
It still remains to be seen as to whether this is just a good PR move from Justin Sun, or the start of something greater as the TRON CEO hopes to use the opportunity to win Buffett over on cryptocurrency.
All proceeds from the ‘eBay Power Lunch With Warren Buffett’ auction go towards GLIDE – A charity which targets poverty and homelessness.
“Litecoin now accepted by more than a million hotels and airlines”
TravelbyBit published a press release detailing a strategic partnership it has recently established with the Litecoin Foundation, which sees the former becoming the ‘official travel partner’ for the Litecoin Summit which will take place later this year.
According to the press release, the relationship was forged out of a mutual desire toward “continuing driving adoption together”
This is the latest of many times that the two companies have worked together, with previous examples including: ability to spend Litecoin at Brisbane Airport since early-2018. Also, Litecoin is a featured cryptocurrency that can be used at ‘Australia’s First Digital Currency-Friendly Town’ – Agnes Water & Town of 1770.
Australian, part-Binance owned TravelbyBit says that it can now provide Litecoin services across the world, here is a list of the countries served by the company (according to its website),
- London, UK
- Bali, Indonesia
- Paris, France
- Brisbane, Australia
- Agnes Water and the Town of 1770, Australia
Litecoin Summit will take place on 28-29th October 2019 within the ‘World Crypto Conference Week’ at The Cosmopolitan in Las Vegas, USA. Confirmed speakers so far include
- Charlie Lee – Founder of Litecoin
- Tim Draper – Venture capitalist and bitcoin bull
- Anthony Pompliano – co-founder of Morgan Creek Capital
- Xinxi Wang – Director, Litecoin Foundation
- Franklyn Richards – Director, Litecoin Foundation
- Mati Greenspan – Senior Market Analyst, eToro
- Samson Mow – CEO, Pixelmatic
- Andrew Yang – Director of Marketing and Partnerships, Alto Financial + 2020 Presidential Candidate
Plus a number of sports professionals, including:
- Ben Askren – Professional MMA, UFC
- Landon Cassill – Driver, Nascar
- Tyler Adkison – Hedge Fund Manager & Former LA Dodger, BlockTerra
- CJ Sapong (Pending Playoffs) – Professional Soccer Player, Chicago Fire
Caleb Yeoh (CEO of TravelbyBit)
“We’re very excited to be working with the Litecoin Foundation. Cryptocurrency adoption is something we strive for in everything we do at TravelbyBit, which is why it makes sense to partner with the Litecoin Foundation, who so closely align with our values. Making it easy and accessible for everyone to join this social movement is instrumental in the furtherment of cryptocurrency.”
Charlie Lee (Creator of Litecoin and Managing Director of the Litecoin Foundation)
“We’re thrilled to be partnering with TravelbyBit, who are adding yet another use case for Litecoin. As a global currency, Litecoin users from all over the world can now book their entire journey in Litecoin, which further shows the tremendous benefit of adopting not just Litecoin payments, but cryptocurrency payments in general.”
GLORY Kickboxing Concluded First-Ever LTC Purchasable Tickets Sale
GLORY Kickboxing league has launched its first sales campaign which allows customers to purchase live event tickets with Litecoin, which currently retains crypto-payment exclusivity with the league.
Arguably, it’s more of a symbolic move than a full mainstream implementation – seeing as the only product which could be bought using the cryptocurrency were VIP package tickets to ‘GLORY66 Paris’ which took place on June 22nd 219. Only 10 of these packs were even available for purchase.
Litecoin announced that it would be partnering with GLORY Kickboxing league originally back in February 2019, when it was declared the official cryptocurrency of the
“world’s premier stand-up combat league”
Information correct as of 00:05 AM, 02nd July 2019