Litecoin Foundation to create crypto debit card after LitePay failure

Litecoin fans will finally get their much coveted debit card.

The Litecoin Foundation has teamed up with crypto exchange Bibox and crypto debit card providers Ternio to issue their own plastic. It will be a special edition BlockCard—Ternio’s brand of card—and will only support Litecoin, Bibox token and Ternio token.

The debit card will be spendable at card terminals around the world, thanks to a partnership with VISA. However, like most (if not all) crypto debit cards, the actual payment will be in fiat money rather than through a blockchain-based transaction.

Litecoin creator Charlie Lee said, in a press release, this, “furthers the Litecoin Foundation’s mission to create more use cases for spending Litecoin in everyday life.”

This is something the Litecoin Foundation has attempted to provide before—and failed. Back in March, 2018, the foundation stopped supporting a project called LitePay, which was designed to create a Litecoin-only crypto debit card. At the time the foundation blamed the CEO Kenneth Asare for not showing any progress or accountability.

With more well-known companies on board, including the backing of a reasonably-sized crypto exchange, this debit card has a better chance of succeeding. But considering Ternio’s normal BlockCards already support Litecoin—and other cryptocurrencies—this special edition card seems to fit a rather niche market of Litecoin maximalists. And it’s not like Charlie Lee will need one either.