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Crypto.com adds Litecoin to its MCO Wallet App Currency Lineup

Nigel Gambanga · @nigelrtg | Aug 03, 2018 | 03:00

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Crypto.com, the payments and cryptocurrency platform formerly known as Monaco, has announced the addition of Litecoin (LTC) to its cryptocurrency application, the MCO Wallet App. Litecoin becomes the fifth virtual currency available on the MCO cryptocurrency platform, which is also tied to its MCO Visa card.

Virtual Currency Variety & Increased Use of LTC

The introduction of Litecoin adds to the platform’s original currencies which are Ethereum (ETH), Bitcoin (BTC), Binance Coin (BNB) and Crypto.com’s own MCO.

Users of the MCO Wallet App have adopted it for trading and tracking these currencies. According to Crypto.com, Litecoin has been added to the basket as an alternative that expands users options, brings variety and extends the platform’s use case.

In the official announcement for the new addition, Kris Marszalek,  Crypto.com’s co-founder and CEO said:

“By listing Litecoin on the MCO Wallet App, we are deepening both the functionality of the app for users and transforming into a go-to, intuitive cryptocurrency exchange platform. We look forward to continually and regularly expanding the variety of cryptocurrencies available to our platform users. Our support of Litecoin marks an essential step in this process as we strive to broaden the audience of cryptocurrency spenders and investors.”

The addition is also being celebrated by Litecoin, which is viewing the partnership as an opportunity to cast a wider net for users of the cryptocurrency.

Crypto.com’s application and metal Visa card represent additional touch points for people adopting Litecoin as a means of everyday transactions.

The announcement from Crypto.com also quoted Charlie Lee, the creator of Litecoin who said:

“Litecoin Foundation and Crypto.com share a common vision of accelerating the development and adoption of cryptocurrency. As Litecoin moves towards widespread acceptance as currency for a growing number of merchants, I’m excited to see Litecoin support added to the MCO Wallet App and the MCO Visa Card. We look forward to advancing the mission to expand cryptocurrency use together with Crypto.com by helping more users buy and spend Litecoins in their day-to-day lives.”

BUILDING ON THE NEW BRAND

Despite being mired in controversies revolving around product revisions and premature partnership announcements in the past, Crypto.com appears to be building on its new brand and identity.

It’s also something that a new currency listing (which it says happens after careful review and consideration) could symbolize.

The adoption of a new name and brand that has a clearer tie to the cryptocurrency space, the addition of new currencies and ultimately the opening up of options for current and potential users might all indicate a new chapter for Crypto.com.

Is the addition of Litecoin enough to add to more value to the MCO Wallet App and the MCO Visa Card? Are there any other currencies that should be added to this platform? Please share your comments below.

Image courtesy of Crypto.com, Shutterstock