Litecoin remains one of the biggest altcoins on the market today. Albeit its market value might not reflect it per se, the ecosystem is still in a very good place overall.
In a recent development, the Litecoin Foundation partnered with BlockFi.
Another use Case for Litecoin Holders
To most people, that might not necessarily make much of a difference.
In the real world, however, things are a bit different.
BlockFii is a financial service provider leveraging the potential of blockchain technology.
Its focus lies on wealth management products for cryptocurrency investors.
With the addition of LTC, Litecoin investors can now earn interest on their holdings, as well as borrow against their LTC portfolio’s value.
It is crucial for the crypto industry as a whole to tap into different financial services and products.
It also provides LTC holders with more options to make the most of their holdings.
Given how Litecoin tends to disappear into the background during most crypto discussions, this development is rather interesting as a whole.
As blockchain technology can unlock new financial products, it is crucial for top currencies to be supported by such providers at an early stage.
BlockFi CEO and founder Zac Prince deems it to be a win-win for both parties.
Attracting more users is always an ongoing challenge, thus it seems that BlockFi is on the right track.