Litecoin has announced that it has entered a partnership with crypto exchange Bibox and blockchain network Ternio. The three platforms have come together to launch the Limited Edition BlockCard, and a Ternio powered crypto debit card for Litecoin.
— Litecoin Foundation (@LTCFoundation) June 18, 2019
In an official statement on its website, Litecoin stated that the special edition debit card will allow the user to spend the monetary value of their crypto funds online as well as at traditional stores across the globe, which accept major credit cards. The company also added the collaboration, will help the companies push large scale adoption of cryptocurrencies in daily spending and usage. It will facilitate the users to make deposits in various digital currencies while keeping their spendable value in Litecoin, Bibox Token, or Ternio.
Commenting on the collaboration, Lee, Creator and Managing Director of Litecoin said,
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.
Bibox Exchange’s role will be quite limited to the United States. The exchange will help Litecoin notify US-based users on the process of registering for access to their card. Based out of Estonia, Bibox is among the top European crypto exchanges, providing sophisticated digital asset trading services since its launch in 2017. With daily transactions averaging over 200 million US dollars a day, it has a strong presence in Switzerland, Canada, China, South Korea, Japan, Singapore, the US, and Vietnam.
Ternio is a leading service provider of enterprise blockchain solutions. It creates crypto-blockchain applications for various uses. Ternio created BlockCard, a physical crypto debit card, with a vision to allow cardholders to use their crypto funds anywhere in the world.