Stripe, the fintech giant, has decided to re-enter the cryptocurrency payment space after a six-year hiatus, starting with USDC stablecoins on the Solana, Ethereum, and Polygon blockchains. This move, introduced by co-founder John Collison at the Connect developer conference, is aimed at improving customer flexibility by offering a more stable and better user experience with […]
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Russian Duma Financial Market Chairman States Digital Financial Assets Might Replace Fiat for International Payments
Chairman of the Russian State Duma Committee on the Financial Market Anatoly Aksakov stated that digital financial assets, issued by institutions regulated by the central bank, could replace fiat channels for international settlements. Aksakov also acknowledged that while not being controlled for this use case, digital assets were already being used to settle international payments. […]
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Russia to Clarify Cryptocurrency Mining Gray Areas, Including Payments
Anton Siluanov, the finance minister of Russia, is prepared to discuss the gray areas surrounding cryptocurrency mining and the use of its proceeding for payments. In a recent lecture, Siluanov stated that the government needed to agree “on what can be done with cryptocurrency,” and “what cannot be done,” recognizing that the issue had been […]
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Russia Discusses Testing Digital Ruble for Budget Payments
The Central Bank of Russia and the Russian treasury are considering testing using the Russian CBDC, the digital ruble, to complete budget settlements. The tests would involve using this CBDC to make payments to businesses and citizens and receiving payments from these in CBDC, to ensure the targeted use of these funds. Russian Digital Ruble […]
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Banco Do Brasil to Test Offline Payments in Brazilian CBDC Pilot
Banco Do Brasil, a bank owned in its majority by the Brazilian state, and Giesecke+Devrient, are partnering to explore the possibilities of bringing offline payments to the future Brazilian CBDC, Drex. The joint initiative will include this functionality in Drex’s pilot, to extend access to financial services to Brazilians with difficult or no access to […]
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Elon Musk Backs DOGE for Tesla Payments — Says ‘Dogecoin to the Moon’
Tesla and Spacex CEO Elon Musk has expressed that Tesla should enable dogecoin as a payment method for its vehicles “at some point.” He exclaimed, “Dogecoin to the moon,” as he explained his reason for backing the meme cryptocurrency. “Lots of rich people were supporting bitcoin … But people on the line [at Tesla and […]
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Wealthy London Residents Reportedly Use Cryptocurrency for High-End Property Rent Payments
Some of London’s wealthy residents are reportedly using cryptocurrency to pay for luxury home rentals. High interest rates and a dampened real estate market have led the city’s affluent residents to opt against buying properties. The acceptance of payment in cryptocurrency demonstrates the real estate agency’s openness and its eagerness to become “a leader within […]
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Litecoin Beats Out Dogecoin, Bitcoin To Emerge As Top Crypto For Payments
Litecoin has emerged as a standout performer in the cryptocurrency payments sector, overtaking prominent digital currencies such as Dogecoin, Bitcoin, and Ethereum as the top choice for crypto payments on leading Bitcoin payment service provider, Bitpay.
Litecoin At The Forefront Of Crypto Payments
In a recent announcement on X (formerly Twitter), the Litecoin team revealed that LTC has claimed the top spot as the most preferred cryptocurrency for payments on Bitpay. Sharing a chart of Bitpay’s payment count by cryptocurrency, the team disclosed that Litecoin has hit a recent milestone, scoring approximately 41.76% of the platform’s total transaction count.
Bitpay’s official website has also acknowledged this significant achievement, confirming that “Litecoin is the cryptocurrency most commonly used for transactions” on its payment platform. Surging higher than popular cryptocurrencies such as Bitcoin and Dogecoin, Litecoin has achieved this milestone by a staggering margin.
Bitpay’s data disclosed that Bitcoin’s transaction count hovered at 24.36%, marking a notable decrease of 17%, compared to Litecoin. Meanwhile, Ethereum lags, barely hitting the double-digit mark with a modest 9.05% on Bitpay’s payment count.
Even as prominent altcoins like Dogecoin attempt to make their mark, LTC has left them trailing behind. Dogecoin, holding the 4th position in Bitpay’s transaction count, only managed to score 6.8% in the total transaction count.
Adding to this recent achievement, the Litecoin Foundation had previously disclosed in January 2024, that Litecoin had hit “a new all-time high of 38.25% on all payments” processed through Bitpay, outpacing both Bitcoin and Dogecoin again. This development underscores the cryptocurrency’s prominence and robust fundamentals, surpassing expectations as it sets a new standard for digital payments.
With the latest surge, boasting over 40% in Bitpay’s total transaction count, Litecoin continues to make substantial strides, leveraging the potential opportunities amid the rising adoption rates and surge in user confidence.
LTC Fundamentals Grow Stronger
As Litecoin dominates in crypto payments, it’s worth noting that the cryptocurrency has also been growing stronger in its fundamentals. As stated by a crypto community member and Litecoin supporter, LTC is witnessing its most bullish year, quickly taking advantage of the positive trends in the crypto market.
The crypto member also suggests a shift in the coin’s market sentiment, underscoring the rising interest from investors and traders in the cryptocurrency’s value and future prospects. Currently, the price of Litecoin is steadily approaching the 0 milestone, effectively leveraging its ecosystem’s developments to boost its value and adoption rates.
At the time of writing, the cryptocurrency is trading at .00, indicating a substantial 25.02% gain over the past month, according to CoinMarketCap.
Featured image from Pexels, chart from TradingView
Kremlin Reveals Plans to Create a “Politics-Free” BRICS Blockchain-Based Payments System
Yury Ushakov, an aide of Russian president Vladimir Putin, revealed plans to create a digital blockchain payment system for the BRICS bloc. Ushakov remarked that the countries of the group would benefit from implementing such a system for the use of governments, common people, and businesses, stating that it would be convenient, cost-effective, and “free […]
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Russia Hints at Development of CBDC-Based BRICS Bridge Payments System
Russia has proposed the development and implementation of a BRICS-wide payment system that would use central bank digital currencies (CBDCs) to manage trade settlements. The BRICS bridge, as referred to by Russian Finance Minister Anton Siluanov, would address the fragmentation of the current payment system outside the West’s “unfriendly infrastructure.” Russia Hints at Using CBDC […]
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