Walmart to Offer Crypto Payments to Customers in New Partnership With Litecoin Foundation
Retail giant Walmart is to offer its customers the option to make payments in crypto via a new partnership with the Litecoin Foundation. The news caused the price of litecoin to soar almost 30% to $225.75 and the price of bitcoin to rise 1.8% to $45,540.
Starting from Oct. 1, all Walmart’s eCommerce stores will have a “Pay with Litecoin Option,” the company announced Monday.
Customers will benefit from “near instant transaction confirmation and near-zero fees regardless of where in the world they are,” Walmart CEO Doug McMillon said.
Walmart says litecoin has been chosen due to being cheaper and faster than bitcoin. While litecoin is more complicated to mine than bitcoin, blocks are generated up to four times faster, Walmart said.
This is a developing story and will be updated.
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