Litecoin Foundation launches cryptocurrency spending card "BlockCard"

The Litecoin Foundation announced on June 18 that it has partnered with the Bibox exchange and blockchain company Ternio to launch a cryptocurrency debit card.

Three companies have jointly launched a cryptocurrency debit card called "BlockCard," as reported by Cointelegraph. The card allows users to spend at any merchant that accepts VISA credit cards, both online and at physical stores worldwide. Currently, it supports the storage of three cryptocurrencies: Litecoin (LTC), Bibox (BIX), and Ternio (TERN). In this project, Bibox exchange acts as the custodian of users' cryptocurrency funds. Ternio will provide a dedicated payment platform. The Litecoin Foundation and Bibox exchange will integrate the card into the official Litecoin wallet LoafWallet. Regarding this collaboration, the Litecoin Foundation expressed in a blog post: "For us, this is an exciting partnership as it further advances the Litecoin Foundation's mission – to create more use cases for spending Litecoin in everyday life. With Ternio's BlockCard platform and Bibox's trading custody, Litecoin has unparalleled access to be used at merchants around the world." This also officially makes the Litecoin Foundation one of the participants in the cryptocurrency debit card industry. Recently, the US exchange Coinbase launched a Visa debit card in six European countries, allowing users to use cryptocurrencies at any merchant that accepts Visa cards. Additionally, financial payment provider Crypterium has partnered with China UnionPay to launch a debit card, allowing users to choose Bitcoin, Ethereum, or Litecoin for daily spending.