Flexa adds Litecoin to crypto line up
Blockchain startup Flexa has added Litecoin as the fifth cryptocurrency accepted by US merchants on its payment network.
Litecoin is now accepted at more than 39,250 locations, as Flexa tweeted this week. “I’m excited to see Flexa help push mainstream adoption of Litecoin payments,” says Charlie Lee, creator of Litecoin. “Being able to pay with LTC at all these new major merchants is great for the entire Litecoin community.”
The aforementioned network launched in May, initially supporting Bitcoin, Ether, Bitcoin Cash, and the Gemini Dollar and working at such retailers as GameStop, Nordstrom, Whole Foods, Jamba Juice and Bed Bath & Beyond.
Its app, Spedn, generates a QR code that you scan at checkout. The merchant receives immediate payment in dollars, and the equivalent amount of cryptocurrency is debited from your cryptocurrency wallet in the app. “This is the first real instance of decentralised global retail payments, with the power to make commerce more efficient and accessible for billions of citizens globally,” said Flexa CEO Tyler Spalding.
“The legacy payment systems are complicated and costly. This solution provides a way for cryptocurrencies to solve these problems and allow merchants to conduct inexpensive and fraud-resistant transactions.”