Yesterday, Feb. 26, 2018 was the launch date of LitePay. LitePay is a service that allows merchants to accept Litecoin for payments and convert it to fiat and allows consumers to sign up for a LitePay card that works like a credit or debit card whose funds are in Litecoin and converted at the spot rate when the card is used. Although the launch of LitePay for merchants went seamlessly yesterday, LitePay postponed the launch of their LitePay card sign-ups. LitePay claims that due to the recent hostilities by card issuers toward cryptocurrencies, the launch of the LitePay card at this point in time could have negative consequences.
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Dan Burgin
Vladislav Sopov
U.Today Editorial Team