Walmart Inc. which is a U.S. multinational retail company that operates a chain of supermarkets, discount department stores, and grocery stores announced a major partnership with Litecoin. The e-commerce giant intends to create a payment service for goods via crypto.
Doug McMillon, Executive Chairman of Walmart noted that at this point the use of crypto is already undeniable. As such we do not want to be left behind in things and at the same time want to continue to facilitate Walmart customers. As a leading e-commerce company, Walmart is committed to bringing innovation in online purchasing services.
McMillon continued, with the integration of Litecoin it will allow shoppers to buy goods more smoothly and more widely. Starting October 1, all Wallmart e-commerce stores will be given the option to pay using Litecoin.
Walmart has long been one of the earliest leaders in blockchain technology, starting as early as 2016 by conducting trials. Charlie Lee, who is the founder of Litecoin commented by stating that LTC fees are too low and fast. Hence it is very suitable for Walmart’s leading e-commerce company.
Following the announcement of the partnership, the price of Litecoin has risen from $ 170 to the $ 230 level, up $ 60 in a short time. However, at the time of writing, Litecoin posted a trading value of $ 182 ,. The asset however saw a decline of more than 50% from the all -time high (ATH) recorded on May 10, $ 412.96.
