Flexa Adds Support For Litecoin

Flexa, a blockchain payment startup based out of New York has recently added Litecoin (LTC) as the newest crypto option that can be accepted by merchants via its payments network. This addition represents the fifth such currency being added to the network and the move was announced by Flexa on 3rd July, 2019.

As a result of the listing, Litecoin will now be available for users to pay at 39,250 new locations. This figure was announced by Flexa via its Twitter account yesterday.

Litecoin is currently the fourth largest cryptocurrency by market cap right now and it became the fifth cryptocurrency to have been added to the list of cryptocurrencies supported by Flexa, since it was launched on the 13th of May this year.

Speedn, the first application built on Flexa, is being used by the company to enable merchant partners to accept payments via several different cryptocurrencies. This includes Litecoin, and four other cryptocurrencies: namely: Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and the stablecoin Gemini Dollar (launched by the Winklevoss brothers). The last of these was added by Flexa as a part of its overall partnership with the Winklevoss brothers’ Gemini Exchange, meant to ensure a high level of security and a robust infrastructure for Speedn.

The new announcement from Flexa tells us that Litecoin was added to its list of supported cryptocurrencies because it is capable of handling fast transactions with low transaction times at extremely low fees. Moreover, the fact that it has “an active community of avid supporters and payments enthusiasts” also played an important role in the decision.

Flexa, however, did not choose to clarify why it had launched the support for Litecoin so late, especially considering its white paper had already stated earlier that it would be adding Litecoin soon.

The possibility that has been suggested by commentators on the issue is that Flexa was probably trying to take advantage of the hype around the upcoming Litecoin Halving, that has been scheduled for the 7th of August, at block height of 1,680,000.

This is an exciting news for crypto enthusiasts, including both shoppers and merchants, who will gain the added benefit of using Litecoin for making their sales and purchases now.