Litecoin (LTC) creator Charlie Lee might be up to something big with plans to further LTC adoption.
After lunch with Flexa Co-Founder and CEO Tyler Spalding earlier today, Lee hinted that he is working with Spalding on a project that could further the adoption of LTC.
This leaves the crypto community wondering what the project could be.
Could it be payments?
Although Charlie Lee did not mention anything specific he is working on with Tyler, he did leave a clue in a Twitter post.
“Just had lunch with this guy. Working on something huge for Litecoin adoption. See if you can figure out who this is! #PayWithLitecoin,” he wrote.
This suggests the collaboration could be in the line of payments to enable the use of LTC for payments among merchants, a use case that Lee had in mind as part of Litecoin design.
This is hardly surprising as Tyler is CEO of Flexa, a new payment processing network built using cryptocurrencies.
The network helps to link merchants and their customers by cutting transaction costs as well as reducing processing time since cryptocurrency payments are usually faster.
It seems the tease is finally becoming a reality in the short term.
Flexa has a number of high profile clients, one of which are the WInklevoss twins who partnered with the company to enable easy payment for goods and services using its stablecoin Gemini Dollar (GUSD).
Already, Flexa supports Bitcoin, Ether, Bitcoin Cash and GUSD and now, LTC may be joining pretty soon as payment option for Barnes & Noble, Baskin Robbins and Bed Bath & Beyond.
Others are Caribou Coffee, Crate & Barrel, Express, GameStop, Jamba Juice, Lowe’s, Nordstrom, Office Depot & OfficeMax, Petco, Regal Cinemas, Ulta Beauty, Whole Foods Market and so on.
Potential for LTC adoption
The long list of merchants who accept payment through Flexa brings thousands if not millions of users to cryptocurrencies supported by the network.
Charlie Lee is focusing on bringing more adoption to LTC with this partnership and if it works out, this number of users could be added to LTC number of users.
In essence, a lot more people could potentially use LTC for payments in several stores. LTC is already well suited for this as it is like the cheaper and faster payment-focused version of Bitcoin.
The 4th largest cryptocurrency has done quite well in 2019 but could really use some mass adoption to push it up a bit.
At the time of writing, LTC is down just like nearly every other cryptocurrency, losing 4.53% in the last 24 hours.
If this new development has any impact, Litecoin should be doing better in the coming days and especially when the market starts to resume an upsurge.