Flexa, a blockchain-based payment startup from New York, has lately added Litecoin as the latest crypto option which can be accepted by merchants on its payment network. This is the fifth currency added by the supported by the network and initiative is declared by Flexa on 3rd July 2019.
After listing Litecoin in its payment network, the cryptocurrency is now accepted at 39,250 locations, Flexa revealed through a tweet yesterday.
Litecoin is presently the fourth most prominent cryptocurrency in terms of market cap, and it is also the fifth cryptocurrency which is supported by Flexa, which was started on May 13.
Spedn is the first application which was being developed on the Flexa network; the firm initially allowed merchant partners to accept payments in only some cryptocurrencies. These are mainly Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Winklevoss-founded Gemini Dollar (GUSD). Notably, Flexa added GUSD as a part of a long-term partnership with Winklevoss Gemini Exchange, that is intended to provide a high level of security and solid infrastructure for Spedn.
In the latest declaration, Flexa made its choice to list litecoin, ensuring that the cryptocurrency allows low transaction fees along with quick confirmation times. Additionally, it consists of “an active community of avid supporters and payments enthusiasts” which play a vital role in the decision.
Nevertheless, Flexa hasn't provided a clear reason why it had introduced the support for Litecoin so late, particularly taking into account its Whitepaper which already stated previously that it would list Litecoin very soon. This detail was available in an article released on Litecoin.com.
The commentators introduce the main reason for the same is that Flexa is going to take benefit of the hype which revolves around the Bitcoin Halving, which is going to take place on the 7th of August, at a block height of 1,680,000.
This is excellent news for crypto fans, along with shoppers and merchants, who will now be able to use Litecoin for buying and selling products.
Earlier in April 2019, Flexa grabbed $14.1 million in funding from Pantera Capital, 1kx, Nima Capital, Access Ventures, and others, which is followed by the firm's public launch in May 2019.
Concurrently, litecoin has been ranked as excellent for investment rewards and approved by the United States based investment data supplier Weiss Ratings. Later on June 18, the Litecoin foundation has made collaboration with some firms to launch physical cryptocurrency debit card, enabling users to spend crypto both online and in global physical stores.