Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Flexa adds support for Litecoin on its payments network allowing users to pay in the cryptocurrency at the point-of-sale terminals at different merchant locations.
Flexa, the New York-based startup seems extremely focused and determined to bring crypto payments to the mainstream. In its recent announcement, Flexa added the Litecoin payment option which will be available at over 39,000 merchant locations in the United States. This is the fifth cryptocurrency which Flexa supports over its payment network.
? More places to spend, just in time for the holiday weekend!
Now, use your Bitcoin, Ether, Bitcoin Cash, and Gemini dollars at more than 39,250 locations—rolling out to everyone over the next few days.
— Flexa (@FlexaHQ) July 2, 2019
In its official blog post, Flexa explains its decision to add Litecoin (LTC) to its network. It says that LTC’s fast confirmation times and also the low transaction fees make it a potential contender for daily crypto payments. Thus, LTC investors can now pay at Flexa’s point-of-sale terminal at over 39,250 stores.
Litecoin founder Charlie Lee praised Flexa over its decision to add Litecoin while speaking at the Asia Blockchain Summit in Taipei. Lee said:
“I’m excited to see Flexa help push mainstream adoption of Litecoin payments. Being able to pay with LTC at all these new major merchants is great for the entire Litecoin community.”
Flexa Pushing the Use of Its SPEDN App
Since its inception, Flexa has been making constant attempts to expand its payments infrastructure and make it more user-friendly. Earlier in May 2019 during the Consensus 2019 event, Flexa released its SPEDN app on the Android and iOS platforms.
The SPEDN App makes crypto payments extremely easy by just holding the smartphone at the point-of-sale terminals. The app interface is absolutely seamless and easy to navigate. Besides, the great thing about Flexa is merchants can get completely fraud resistant transactions by using the existing hardware only. Moreover, the merchants receive the payment in fiat and not crypto.
Thus the Flexa infrastructure provides the essential bridge between the fiat and the crypto payments.
With the latest Litecoin integration, Flexa asked users to join them for the crypto usage through the SPEDN app. The blog post states:
“Adding Litecoin brings Flexa one step forward in its mission to make any cryptocurrency spendable at any store, in any country around the world. That’s why we’re so proud to partner with the Litecoin Foundation on bringing cryptocurrency payments into the mainstream, starting with inviting thousands more people to use Flexa’s SPEDN app”.
Meanwhile, as per the Weiss Ratings, Litecoin is ranked “excellent” for investment rewards. Besides, the Litecoin Foundation is working hard to bring the Litecoin adoption to the mainstream. It has recently partnered with Bibox and Ternio to launch physical debit cards to facilitate crypto payments in online and offline physical stores.
In May 2019, Flexa entered an important partnership with cryptocurrency exchange Gemini. As part of this partnership, Flexa integrated Gemini’s stablecoin GUSD across its entire payment network.