According to a blog post on June 18th, the firms will join hands to release BlockCard – a Ternio-powered digital coin debit card – which will facilitate the transactions, made by Litecoin customers, via both online platforms and offline store located across the globe. The card allows customers to store numerous coins, including litecoin (LTC), bibox token (BIX) and ternio (TERN).
per the project, Bibox Exchange will be responsible for providing custody for customers’ fund, as well as leverage for the crypto trading volume, which can shoot up to $200 million daily. Ternio is in charge of building a dedicated platform, while The Litecoin Foundation and Bibox Exchange will take care of the integration process of the card into LoafWallet – their official wallets.
“This is an exciting partnership for us as it furthers the Litecoin Foundation’s mission to create more use cases for spending Litecoin in everyday life. Leveraging Ternio’s BlockCard platform with Bibox’s exchange engine gives Litecoin holders unparalleled access to use their LTC at merchants around the world.”
By rolling out the new card, The Litecoin Foundation will be the next member joining the club of major industry players, who have previously introduced their version of crypto debit card. Coinbase for example, has released its Visa debit card in 6 nations in the EU – which enable its clients to use cryptocurrency as a mean of payment at any store, that accepts Visa cards.