Litecoin teams up with Aliant after LitePay's demise
An established payment service provider has been tagged to pick up the ball after LitePay dropped it last month. Aliant, which works with small and medium-sized companies to fulfill their payment requirements, could soon become the go-to provider for Litecoin, which has desperately been looking to rebound after several early-year tumbles.
Aliant isn't a novice when it comes to handling cryptocurrency payments. It has previously worked with Bitcoin and Ethereum platforms, and the company's CEO, Eric Brown, said of the entrance into crypto, "Our merchants look to us for innovative ways to transfer money safely, securely, and cost-effectively. Cryptocurrency allows us to move money in all of these ways, while also offering consumers more payment options.”
The move will be an important strategic step for both Litecoin and Aliant. Aliant will prove itself to be able to handle crypto trading, which should attract more small-scale traders to the market. Litecoin, for reasons that should be obvious, needs a solution to fulfill its promise to the coin's enthusiasts and investors.
The cancellation of LitePay was a heavy-handed slap in the face to Litecoin. The much-anticipated launch and almost immediate closure hurt the altcoin's image, generating a highly negative response across the industry. Provided everything goes well this time around, Litecoin should begin to see substantial gains in the market. Currently, it's trading at $115.02, an increase of 0.82% in the past 24 hours.