Flexa adds Litecoin to its network of over 39,000 merchants.
Flexa, a New York-based cryptocurrency payment processor that raised $14.1 million in startup funding last year to fulfill its mission and ‘catalyze retail blockchain adoption’, accepts Litecoin in its SPEDN Point of Sale (POS) payment app. Support has begun.
“Flexa is pleased to announce Litecoin (LTC) as the fifth digital asset available to merchants on the Flexa Network, and the first coin added to the network since launching in the U.S. just seven weeks ago.”
Despite being added since the initial launch, the news leaked somewhat prior to the tease shared on Twitter, as the company’s whitepaper lists Litecoin as one of four cryptocurrencies it will support, along with Bitcoin, Ethereum, and Bitcoin Cash. There is no reason for the delay, but it wouldn’t be too much of a stretch to assume it was done to capitalize on the excitement and hype surrounding the upcoming Litecoin halving event. However, Flexa shared its reasons for including Litecoin and why it is a perfect fit for the network.
“As one of the first and most prolific cryptocurrencies, Litecoin distinguishes itself with low transaction fees, fast confirmation times, and a vibrant community of passionate supporters and payment enthusiasts. Flexa, the first instant cryptocurrency payment network, offers point-of-sale payments directly at: Over 39,250 stores (Counting) Across the United States. Together, Flexa and Litecoin are delivering on cryptocurrency’s promise of secure, fast, fraud-free payments that improve the status quo for both merchants and consumers.”
Charlie Lee, Litecoin creator and executive director of the foundation, shared his thoughts on the announcement at the Asia Blockchain Summit in Taipei.
“We’re excited to help Flexa drive mainstream adoption of Litecoin payments.” “Being able to pay with LTC at all these new major merchants is a huge boon to the entire Litecoin community.”
Since SPEDN’s initial launch, the Litecoin community has been publicly pushing for support, and the Litecoin Foundation appears to have brought the two partners together to achieve the common goal of mainstreaming and simplifying cryptocurrency payments.
“Adding Litecoin takes Flexa’s mission of making cryptocurrency available to every store in every country around the world a step further. That’s why we’re so proud to be working with the Litecoin Foundation to bring cryptocurrency payments into the mainstream, starting with inviting thousands of people to use Flexa’s *SPEDN* app.”
SPEDN is currently only available on IOS devices for those who want to test the platform in the US, but an Android beta is planned for later this year.
