Daily Litecoin News Update
Yesterday’s Litecoin news update had some bad news. Although none had anything to do with Litecoin directly, they seemed to affect its price. Today’s update is a 180-degree turn from there. I bring you some good news that would brighten up your day if you’re an LTC “HODLer.” Here goes:
- A major merchant processor just confirmed it would be adding support for Litecoin payments.
- A South American cryptocurrency exchange announced plans to add Litecoin for trading.
- The boogeyman is finally out of the closet. South Korea is not banning cryptocurrency trading.
Allow me to divulge more information on each.
Firstly, payments processor Aliant Payment Systems Inc., which provides services to merchants internationally, has just added support for Bitcoin and Ethereum on its platform. Good news is that the next cryptocurrency it’s looking to add is Litecoin.
The CEO of Aliant Payments confirmed that Litecoin is in the final phase of testing and will soon become available to all of the merchants on Aliant’s network. Aliant merchants will be able to seamlessly accept Litecoin payments, which will be processed through Aliant’s point-of-sale (POS) systems. Simply put, this development opens new doors for Litecoin to reach out to the masses.
Recall that just two weeks ago, BTCPay Server—another merchant processor dedicated to Bitcoin—added support for Litecoin. Meanwhile, we anxiously await the launch of “LitePay”—Litecoin Foundation’s self-created payment processor due to be launched next month. In short, Litecoin is off to a good start in 2018.
Moving on, the second piece of good news is that a Brazilian cryptocurrency exchange will soon be adding Litecoin to its platform. The exchange, Bitcoin Trade, which currently allows only BTC trading, revealed in a Facebook post that it would soon be adding Litecoin, Ethereum, and Bitcoin Cash for buying and selling. Although small, the exchange increases Litecoin’s exposure to Brazilian investors.
And finally, the biggest news of the day is that the South Korean government has indeed put to rest all rumors of a possible cryptocurrency ban.
The government has instead sought user data from the country’s six major banks. Not only will the government be allowing trading, but it’ll be regulating and monitoring the space for taxation purposes.
It is reported that six major banks in the country will be accepting accounts linked with cryptocurrency exchanges. The banks will ensure the authenticity of accounts and help the government in curbing anonymous trading, money laundering, and illicit trading issues.
All in all, the initiative is expected to curtail high volatility in crypto prices. (Source: “Korean Crypto Exchanges to Share Data with Banks in New Account System This Month,” Bitcoin.com, January 22, 2018.)
To sum it all up, crypto exchanges just got a green light from the South Korean government. The air of uncertainty, which caused the cryptocurrency crash of 2018, will soon begin to dissipate and we may finally be able to move on.
All of this news has us excited. We’re hopeful that 2018 will turn out to be a great year for Litecoin. We’re staying put in our Litecoin price prediction with a $400.00 LTC price target.