Litecoin update: WikiLeaks, Lee joins DMG Blockchain and Collaboration With TokenPay

Since its creation in 2011, Litecoin has consistently been among the best cryptocurrencies in terms of market capitalization and user adoption. In recent months, the Litecoin Foundation, led by its explicit creator of Litecoin, Charlie Lee, has worked to promote the adoption by traders of the popular digital currency.

WikiLeaks and Wirex Adoption

WikiLeaks, the independent media company, has announced that it will start accepting Litecoin (LTC) as a payment method in its online market. The announcement comes after WikiLeaks has called for a boycott boycott, the popular cryptocurrency, after closing its bitcoin merchant payment service for the media company.

The founder of WikiLeaks, Julian Assange, has long been a supporter of decentralized digital currencies due to their intrinsic privacy support capabilities. For a while, the WikiLeaks store accepted bitcoins. However has recently announced that it will also begin to accept litecoin. This is the result of the addition of a new gateway for cryptocurrency payments called CoinPayments.

Evidently, the initiative & # 39; Pay With Litecoin & # 39; it's working well, as Fintech's UK startup Wirex announced it would add litecoin support to its portfolios. Until recently, the company provided support only for bitcoin users. Explaining the move, Wirex said, "It's faster than Bitcoin, has lower blockchain fees and could become a global payment option available on dozens of big brand websites in the coming months."

Charlie Lee joins DMG Blockchain

DMG Blockchain Solutions is a company that provides Mining-as-a-Service (MaaS) solutions to its customers. It allows its customers to acquire a certain amount of funds as payment for mining operations. To do this work, the customer purchases a plan that will be proportional to his mining earnings.

DMG manages the logistics of the current mine. The customer does not have to worry about the reality of the mining process. Because the extraction process requires attention to a number of details such as managing heating and electricity rates, some members of the cryptocurrency community turn to MaaS as an easy way to meet their extraction needs.

The famous MaaS supplier reported the addition of Litecoin's creator, Charlie Lee, to his advisory committee. This happens while the company is preparing to add Litecoin to its list of altcoins available for extraction through its platform. In addition, DMG is also planning to implement support for the Lightning network, which in turn will allow the atomic exchange between bitcoin and litecoin.

This move is a sign that litecoin is more suitable for retail payments than bitcoins. Expressing his thoughts on the move, Lee said, "I am pleased to see DMG's interest in supporting LTC, and I am looking forward to recommending both DMG teams for industrial extraction and Engineering while the company expands into the LTC ecosystem ".

DMG believes that the inclusion of Lee in its advisory board will help the company make informed decisions in its MaaS space regarding Litecoin, as well as other altcoins. Dan Reitzik, CEO of DMG Blockchain Solutions, explained: "In addition to bitcoin, our global Mining-as-a-Service (MaaS) customers require litecoin mining services, so as we prepare to expand our unique offer of Maas over the bitcoin, we are lucky to have Charlie Lee both as a shareholder and as a consultant. "

Lee has long been a respected figure within the crypto community, offering his opinions through a number of means. In his capacity as head of the Litecoin Foundation, he is working to increase the adoption of the altcoin. However, he has repeatedly stated that he believes that collaboration within the cryptocurrency space will lead to greater growth and widespread adoption across the entire space.

Reitzik also added:

"As for Charlie, every employee in DMG Blockchain Solutions knows him by reputation, if not personally, and we're all thrilled to have his knowledge of the industry and his personal attention to the strategy and development of DMG in the future."

Collaboration with TokenPay

Following the conversations back and forth on Twitter, it is now reported that Lee and the Litecoin Foundation are evaluating the hypothesis of buying a bank in Europe as a joint commitment with TokenPay.

The conversation between Lee and Derek Chief, CEO of TokenPay, initially began as a discussion of the recent announcement by Pornhub that it would accept payments to Verge. Eventually it culminated in a conversation about the direction of cryptographic space.

Head tweeted to Lee saying:

"No problem, so when you want to talk about a real debt solution, we are buying 9.9 percent of a bank in Monaco with the option to buy 90 percent, we have an entire ecosystem and a plan in place. know how we can work together.The battle between the old and the new world has just begun. "

He also added that this way a way to get governments and corporate educated on cryptocurrencies. "The key to making this work is ecosystems, partnerships and constant communication with regulators: buying a bank in Germany makes us sit at the table of authorities, key to educating governments." As for $ LTC we can add to our bank, paper. debt, gift certificates, etc. "

Lee responded with a directive to continue the conversation in private. After the exchange, speculation grew, with some rumors that the parties had signed an NDA to further discuss the matter. Days later, Lee confirmed that the two sides are exploring if this is a viable option.

It remains to be seen whether the purchase of the bank will materialize and, if so, how will it affect the litecoin price. Furthermore, it is likely to positively influence the larger cryptocurrency space if it actually occurs.