Litecoin Surges After Latest News About LitePay

Litecoin Surges After Latest News About LitePay

Litecoin has surged close to 40% on Wednesday after the launch date of LitePay was confirmed. The new payment processor for Litecoin will be available on February 26 and users are excited about the opportunities it will offer.

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Earlier this week, LitePay CEO Kenneth S. Asare finally announced the official release date for the dedicated Litecoin payment system and the news made Litecoin skyrocket by close to 40% in less than 24 hours touching a high mark of $237.

LitePay will officially be launched on February 26 and it will be available in a total of 41 countries, 40 more than the first announcement that claimed LitePay would only be available in Great Britain. Some of the included countries are Japan, China, and the United States.

One of the reasons the founders started developing LitePay was because Litecoin users were demanding that the Bitcoin payment system BitPay should introduce support for Litecoin. When BitPay refused, users took the matter into their own hands and started developing LitePay.

LitePay will be used as a payment processor for business owners, as an international payment system with a fixed 1% fee, as well as a Litecoin Visa card that can be used like any regular Visa card.

What About the Litecoin Fork?

Some people claim that Litecoin also surged because a Litecoin fork is planned for Sunday. The fork will create a new Litecoin based cryptocurrency called Litecoin Cash. However Litecoin’s founder Charlie Lee called the fork a “scam” and urged users to be careful. Forks are also known to attract scammers that offer “free” coins, so be extra careful of anyone talking about the Litecoin Cash fork.

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