• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

Major New Partnership Set to Spur Litecoin Adoption

Rick Delafont by Rick Delafont
11 months ago
in Cryptocurrency news, Litecoin
Reading Time: 2min read
cash litecoin crypto
Advertisement
Listen to Article

Litecoin will be coming thousands of regular cash machines in South Korea. The Litecoin Foundation has just partnered with MeconCash, allowing ATM users to convert LTC to fiat at real world locations.

The partnership may serve to drive adoption of a crypto asset for which staying relevant seems a particular struggle.

New Partnership Enables LTC to Fiat Withdrawals at 13,000 ATMs

According to a recent press release, the Litecoin Foundation has just partnered with MeconCash, a South-Korean blockchain startup. Amongst other things, the partnership will allow users to exchange LTC for Korean won at more than 13,000 in South Korea. They can then withdraw the fiat currency for spending at shops not accepting crypto.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

We are thrilled to announce that Litecoin Foundation is partnering with MeconCash to enable Litecoin (LTC) withdrawals to Korean Won (KRW) at over 13,000 atms across South Korea. Read more: https://t.co/yJfSTkRoC9 pic.twitter.com/Mx1njs9AZb

— Litecoin Foundation (@LTCFoundation) February 27, 2020

The deal will also see MeconCash integrate Litecoin with its MeconMall. Users can also use the crypto asset to pay for various digital goods, including mobile games.

Charlie Lee, the Managing Director of the Litecoin Foundation, commented the following on the recent partnership:

“Litecoin’s integration into M.Pay’s platform and large network of ATM’s is a big step toward expanding Litecoin’s footprint in the South Korean market.”

Meanwhile, Jo Jae Do, the Chairman of MeconCash agreed that the integration of Litecoin with the firm’s existing ATM infrastructure would drive LTC adoption in South Korea. He added that the partnership with the globally-recognised Litecoin Foundation would also allow for international expansion efforts by MeconCash too.

Can Partnerships and Upgrades Keep LTC Relevant?

In an increasingly competitive crypto market, it’s more difficult than ever to see how Litecoin uniquely solves any problem. Whilst Bitcoin seems to have the the “digital gold”/store-of-value use case all wrapped up already, other niches have no shortage of projects striving for market acceptance.

In the realm of strictly borderless payments, the likes of XRP, Bitcoin SV, DASH, or even stablecoins like DAI, USDT, or USDC, all offer strong competition to Litecoin. Meanwhile, the long running digital currency has scant smart contract development and lags way behind the likes of Ethereum and others.

Outside of ludicrously priced cryptocurrency ATMs and the odd real-world company accepting it, digital currency hasn’t really transitioned from the virtual to the physical world yet. Perhaps being able to use a fiat cash machine to interact with the LTC blockchain will create greater relevance for both the Litecoin and the wider industry.

A more ongoing development that may attract new users to the Litecoin camp is the implementation of the scaling and privacy technology Mimblewimble to the protocol. The upgrade would bring confidential transactions to LTC and serve as a live experiment of how the technology works on an established public blockchain network.

It’s worth noting that SegWit, an upgrade to the Bitcoin network, first went live on Litecoin. With the smaller network clearly willing to experiment with radical new tech, perhaps continuing to serve as a live test net for Bitcoin is Litecoin’s use case. Maybe it will be enough to keep the project relevant for some more time yet.

 

Related Reading: Bitcoin is “Right Where It’s Supposed to Be” as Investors Grow Fearful

Featured Image from Shutterstock.
Tags: cryptocurrencyLitecoinSouth Korea
TweetShare22
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Rick Delafont

Rick Delafont

Based in Europe, Rick has written about the cryptocurrency industry since 2016. He was first drawn to Bitcoin as a means of payment but quickly became fascinated by its wider potential implications. His interests lie in the political, economic, and social impact of the unfolding digital asset revolution.

Related Posts

Saylor: Institutional Interest in Bitcoin is Bigger Than You Think

Saylor: Institutional Interest in Bitcoin is Bigger Than You Think

4 hours ago
3 Things Bitcoin Traders Should Watch in FOMC’s First Meeting of 2021

3 Things Bitcoin Traders Should Watch in FOMC’s First Meeting of 2021

5 hours ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Trouble for Bitcoin as 3 On-Chain Indicators Point to Potential Sell-Offs

1 day ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Severe Liquidity Shock Ahead for Bitcoin Market, Warns JPMorgan

1 day ago
regulations

Crypto Exchanges: Slow Shift to Classic Financial Industry Regulations?

1 day ago
defi

11 DeFi Projects Rumored to Be Airdropping Tokens

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Hodlnaut Partners with Crowe Singapore to Perform Independent Verification of US$106 Million of CryptoAssets

January 27, 2021

Helio Lending Pivots into Becoming a CeFi Aggregator

January 27, 2021

Coinbase Custody to Support Dvision Network (DVI)

January 26, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.