The Litecoin Foundation has announced, with global fintech company Ternio, the rolling out its latest white-label card with the Litecoin Foundation. The Litecoin Card is a crypto debit card, allowing users to load it with Litecoin and spend it at one of over 50 million merchants worldwide.
The Litecoin Card will offer users the ability to fund their account with Litecoin and other supported cryptocurrencies for immediate spending power. The Litecoin Card is the most efficient way to make a purchase with Litecoin or to withdraw it as cash at an ATM. Users can register for an account, pass KYC and have a virtual card issued to them immediately to use while a physical card is mailed to them. While other crypto debit cards hold users’ funds in a proprietary currency, the Litecoin Card is ideal for Litecoin enthusiasts who are committed to keeping their funds in Litecoin until the point of sale.
”The Litecoin Foundation is excited to partner with Ternio for the upcoming release of the Litecoin Card. Ternio’s versatility and ability to give customers the power to stay in LTC up until the point of purchase made them the natural platform of choice. The Litecoin Foundation spent months crafting everything from user experience to the card design itself and I could not be more excited to get this in the hands of Litecoin holders and spenders.Charlie LeeFounder of Litecoin
The Litecoin Card is designed to function as simply as any traditional debit or credit card. The card has a notable distinction from other crypto debit cards on the market: when a user deposits crypto into their account, it stays in crypto rather than being converted to cash like a gift card. This distinguishing feature allows the user more independent control over their funds. Once the card is issued, users will have the option to connect their Litecoin Card to Apple, Google or Samsung pay for an even more seamless spending experience.
“I’m thrilled that Ternio could partner with the Litecoin Foundation to make the Litecoin Card a reality for the entire LTC community. Ternio is taking the approach that walled gardens are over, and a rising tide lifts all ships. The end game for our platform is mass adoption, and we want to empower any organization that is focused on the same with the tools that we’ve developed. We’re so excited to see how this project grows, and Litecoin’s vision for the future of personal finance made them a perfect partner.” – Ian Kane, Co-founder and COO at Ternio.
Ternio’s own platform, Blockcard, was developed to showcase the fintech company’s ever expanding suite of crypto friendly banking products, which can then be incorporated into any partner cards. BlockCard’s most recent release was an FDIC insured bank account which provides an effortless crypto on-ramp for users wanting to buy crypto and load it onto their cards. In turn, Litecoin Card users can look forward to that same feature being made available to them. Currently, accounts are open to US residents who can open up a free account right now to put themselves on the list to receive the Litecoin Card as soon as it goes live.