BlockCard is launching the first debit card with its native currency as Litecoin, according to Cointelegraph. Unlike other cards that support deposits in LTC, this card will also keep the funds in the following cryptocurrency until the client uses the card for payments.
According to its website, the Litecoin debit card will allow the users to deposit funds to their accounts in any cryptocurrency they prefer. After depositing, the funds will be converted into Litecoin and stored on the card until purchase. When buying goods or services, the Litecoin in the card will be converted again. The payment will take place using currency or cryptocurrency accepted by the merchant.
The website currently lists more than 12 cryptocurrencies that users can deposit their funds in. Those include Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, Tether, USD Coin, Basic Attention Token, Stellar Lumen, and others.
Cointelegraph says, referring to the interview with Charlie Lee, the creator of Litecoin, that about 300 clients already signed up for the card. However, the service will not become available to use for several weeks.
Litecoin is one of the most popular cryptocurrencies and takes the 8th place in market capitalization. It follows such cryptos as Bitcoin, Ethereum, Ripple, Tether, Chainlink, Bitcoin Cash, and Bitcoin SV.