The Litecoin Foundation has teamed up with crypto exchange Bibox and crypto debit card provider Ternio to issue a new special edition BlockCard that exclusively supports Litecoin as well as tokens from the latter two companies.
According to a press release, the new debit card will be usable at card terminals around the world. Like most crypto debit cards, the actual payment will be made in fiat currency rather than with crypto assets through a blockchain transaction.
“This is an exciting partnership for us as it furthers the Litecoin Foundation’s mission to create more use cases for spending Litecoin in everyday life,” said Charlie Lee, creator of Litecoin and Managing Director of the Litecoin Foundation.
“Leveraging Ternio’s BlockCard platform with Bibox’s exchange engine gives Litecoin holders unparalleled access to use their LTC at merchants around the world.”
This isn’t the first time the Litecoin Foundation has tried to release a debit card. The company had previously rolled out a project called LitePay that sought to create a Litecoin-exclusive debit card, but the plug was pulled on that project in March 2018.
Considering that standard BlockCards already support Litecoin along with other forms of crypto assets, it remains to be seen how many of the Litecoin faithful will adopt the new card.