This week saw the launch of a virtual Visa debit card with native Litecoin support. Its issuer is BlockCard.<\/p>\n
As stated on the product\u2019s website, among existing offerings the new card is the only one where deposited funds are converted and stored in LTC until cashing out.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
At the time, the eponymous LitePay company claimed that the service\u2019s launch was derailed by \u201chostile actions of payment-card issuers against cryptocurrency companies.\u201d<\/p>\n
However, it later emerged that LitePay\u2019s CEO Kenneth Asare had approached the Litecoin Foundation for additional funding, which the organisation declined due to opaque budgeting and a dubious management process.<\/p>\n
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