39,000 More Merchants Can Accept Litecoin With Flexa Integration
Flexa, a blockchain payment firm headquartered in New York, has listed Litecoin (LTC) as one of the five cryptocurrencies accepted by its network of merchants. With this inclusion, according to a tweet by Flexa, Litecoin becomes one of the most adopted cryptos with over 39,250 vendors accepting it.
In fact, the fourth-biggest cryptocurrency by market capitalization was the first one to be included in the list of supported coins within Flexa’s ecosystem, which came into existence on May 13.
Through the first application built on Flexa network, Spedn, the company initially enabled merchant partners to accept payments in four cryptos including bitcoin (BTC), ether (ETH), bitcoin cash (BCH), and Winklevoss-founded stablecoin Gemini dollar (GUSD). Specifically, Flexa listed GUSD as part of a wider partnership with Winklevoss’ Gemini exchange, which intends to ensure Spedn’s regulated infrastructure and security.
Flexa has justified the addition of Litecoin to its platform by saying that the cryptocurrency facilitates transaction at extremely low fees and provides quick confirmation, in addition to “an active community of avid supporters and payment enthusiasts.”
Flexa, however, did not provide any reason for the delay in supporting Litecoin, which was mentioned in the former’s white paper as one of the coins that would be supported in the initial launch.
The author of the article suggested that Flexa has not initially listed litecoin to “capitalize on the excitement” around the upcoming Litecoin Halving, which is expected to take place on August 7, 2019, at block height 1,680,000.
In April 2019, Flexa secured $14.1 million in a funding round led by Pantera Capital, 1kx, Nima Capital, Access Ventures, and others, which preceded the company’s public launch in May 2019.
In the meantime, US-based investment data provider Weiss Ratings has rated Litecoin as “excellent” on the basis of adoption and investment rewards. On June 18th, Litecoin Foundation inked a partnership deal to unveil a cryptocurrency debit card that facilitates users to pay for products and services received at physical locations and online.