Several recent agreements have made it easier to utilize Litecoin for regular payments. After dipping below 100,000 in early October, the number of Litecoin (LTC) transactions has risen to above 140,000 in recent days. The Litecoin Foundation had tweeted three days before announcing the debut of their LTC Visa Debit card, which was powered by fintech startup Unbanked.
Customers would first register for a Litecoin Card account, put LTC into a specified wallet address, pass a know-your-customer check, and then obtain a virtual Litecoin Card, according to the card's webpage. The sign-up procedure, according to the service, takes less than five minutes.
The Litecoin card will allow users to spend LTC at any digital business that accepts Visa as a payment method, which the Litecoin Foundation expects to be over 50 million.
The Litecoin Foundation followed up with another tweet on Verifone's BitPay partnership the next day. Verifone is one of the largest point-of-sale payment processors in the world, processing almost $440 billion in yearly transactions. BitPay is a cryptocurrency payment processor that processes over 60,000 consumer Bitcoin (BTC), Ethereum (ETH), LTC, and other cryptocurrency transactions per month.
In 2011, Litecoin was developed with the declared goal of becoming "the silver to Bitcoin's gold." According to cryptwerk statistics, there are currently 3,111 establishments accepting LTC as payment directly, up from 2,230 in the same period last year. Merchant acceptance of the digital currency is now somewhat less than half that of Bitcoin.
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