Litecoin (LTC) is one of the oldest altcoins that still exists today. It doesn’t just exist but it is also one of the top altcoins in the top 10 market cap ladder. You can say that Litecoin is the only successful altcoin from the 2011 era. Before we dive deeper into the article, you might want to check my other articles with partnerships and collaborations of Kyber Network, VeChain, and Chainlink.
Back to Litecoin, So, LTC is known as the “lite version of Bitcoin” due to its faster speed and cheaper transaction fees than Bitcoin, although both share many similarities. Even Litecoin’s founder, Charlie Lee, has stated that Litecoin is like “silver” to Bitcoin’s “gold”.
So, how successful is Litecoin in terms of partnership? Well, we have the list of Litecoin partnerships and integration on this article.
Partnerships and Integrations List:
1. UFC (source)
2. The Miami Dolphins (source)
3. WEG Bank AG (source)
4. Mimblewimble (source)
5. NordVPN (source)
6. Travala (source)
7. Re/Max London (source)
8. Glory Kickboxing (source)
9. Ternio Blockcard VISA (source)
10. eGifter (source)
11. BlockFi (source)
12. MeconCash (source)
13. San Diego International Film Festival (source)
14. SafePal (source)
15. Ellipal (source)
16. Aliant (source)
17. Wirex (source)
18. TravelByBit (source)
19. Oppenheim Law (source)
Detailed List Of Partnerships And Integrations
Back in December 2018, Litecoin Foundation (through its leader, Charlie Lee) had announced that they would sponsor UFC 232. The sponsorship/partnership would allow Litecoin logo to be placed on the canvas of the UFC fights on December 29, 2018 in Inglewood, California.
When Charlie Lee announced this sponsorship through his Twitter account, everybody felt very excited about it. The crypto news websites made this announcement as their headlines. UFC is one of the biggest brands in the sport industry and LTC had successfully achieved something that most other altcoins would never be able to do.
2. The Miami Dolphins
Litecoin successfully became the official cryptocurrency of the Miami Dolphins, a popular NFL team in the United States. Through its connections, the Litecoin Foundation successfully convinced the NFL team to adopt cryptocurrency and especially LTC.
It was written that this partnership would allow Litecoin to get into NFL's biggest fan bases through Miami Dolphin's branding and advertising opportunities at their headquarter. The NFL team would also allow Litecoin to be included in various online properties and digital content. The news was seen as a huge win for crypto adoption, knowing that NFL is the primary sport in the US itself.
3. WEG Bank AG
Litecoin Foundation, alongside TokenPay and blockchain startup Nimiq have agreed to own 30% of equity in WEG Bank AG, a small German bank with specialization in the real estate market. It was claimed that these acquisitions were not only about making profit but also about connecting institutional bank to decentralized exchanges (DEXs) to facilitate crypto adoption. Even though it was not mentioned specifically whether they (the crypto companies acquiring equities in WEG Bank AG) would use the same bank to fulfill this mission, but it looks like they were more interested in the facilities and technology of the bank itself.
The news itself successfully attracted plenty of headlines when it was announced for the first time. Typically, crypto companies wouldn't even try in acquiring any type of bank but Litecoin Foundation has been always exploring new opportunities, including in more traditional markets.
Mimblewimble is one of the most hyped protocols related to blockchain privacy. Mimblewimble (or MW) is technically a design that employs a novel way of structuring and storing transactions. It's similar to Proof-of-Work (PoW) mechanism but it uses different implementation to increase network stability as well as privacy.
For you who are familiar with GRIN, it's basically one of the few altcoins that was built on top of Mimblewimble Protocol. And MimbleWimble's connection to Litecoin? Well, it's not a secret that Litecoin founder Charlie Lee has been saying repeatedly that he wanted to implement Mimblewimble privacy features into Litecoin. Apparently, this year this integration would finally become reality. It's said that by the end of 2020 Mimblewimble would be adopted by Litecoin's mainnet.
NordVPN is one of the most popular VPN service providers in the world and it has integrated Bitcoin, Litecoin, and other top altcoins into its medium of payments. There was no big press release or announcement about this integration but it's kind of a big deal knowing NordVPN's popularity. Litecoin's integration into NordVPN was made possible by CoinPayments (which is used by NordVPN to complete all purchases via cryptocurrencies).
For you who are not familiar, NordVPN is one of the most successful VPN companies in the world. Unlike many other VPN services, NordVPN has spent aggressively on advertisements and internet marketing.
Travala is the most popular hotel accommodation online service that utilizes cryptocurrencies as its medium of payment. It became popular since 1-2 years ago and many crypto enthusiasts started using their cryptocurrencies to book hotels on Travala. Travala is also known to provide huge hotel discounts for its customers.
Fortunately, Litecoin was one of the earliest cryptocurrencies to be adopted by Travala. Alongside BTC and several top altcoins, LTC successfully became one of the top medium of payments in the Travala ecosystem. Litecoin Foundation also named Travala to be its official accommodation partner.
7. Re/Max London
Re/MAX London is a real-estate rental service based in the United Kingdom. The core team of Re/Max has been long known as the early adopters of cryptocurrencies and they agreed to integrate Bitcoin, Litecoin, and Dogecoin since 2015. It was claimed at the time that Re/Max's 16 London offices would immediately accept LTC as a form of payment for rentals.
The regional director of Re/Max claimed that adopting cryptocurrencies would bring efficiencies of new payment technologies to Re/Max's operations. While not many altcoins could have real-estate service company as its partner, Litecoin has successfully done it.
8. Glory Kickboxing
Glory Kickboxing (formerly known as Glory World Series) is an international kickboxing promotion company with six different weight classes. It's not as famous as MMA or boxing industry but it has decent amount of audience. Litecoin Foundation has partnered with Kickboxing to increase its adoption among non-crypto users.
It was claimed that this partnership would allow Litecoin to be used in Glory Kickboxing's online merchandise platform as well as international events.
9. Ternio Blockcard VISA
Ternio Blockcard VISA is just like any other VISA cards that allow you to spend your cryptocurrencies and the merchants (who process your VISA card) would receive the money automatically in the local fiat currencies. The basic concept of Ternio has huge appeal among crypto enthusiasts, especially those who want to be able to use their crypto easily outside mobile application and crypto exchanges.
Fortunately for Litecoin, it was adopted right from the beginning alongside Bitcoin, ETH, XRP, and several other top altcoins. Litecoin's integration with Ternio Blockcard VISA card allows LTC to be used in all merchants that accept VISA cards.
eGifter is a decent gift card online service that tries to compete with Gyft and other similar services. eGifter is known to be a big fan of cryptocurrencies and it also has publicly supported Litecoin. As of now, Litecoin can be used to purchase gift cards from over 250 brands on eGifter. This integration has expanded Litecoin's use cases to more use cases than ever before.
Back in January 2020, the Litecoin Foundation announced that it has partnered with BlockFi, a popular US-based crypto lending startup. With this partnership, LTC community would be able to earn interest and borrow against their own LTCs within their BlockFi account. Basically, the concept is that you can use your LTCs as collaterals and get some USD loans from BlockFi.
Many lending platforms typically prioritze BTC and ETH as the main collateral options but this news has successfully helped Litecoin to stay relevant in the era of crypto lending.
Litecoin also decided to partner with MeconCash to help Litecoin's adoption in South Korea. It is written that this partnership allowed LTC to be used for Korean Won (KRW) withdrawals at more than 13,000 ATMs all over South Korea. This is possible thanks to MeconCash's M.Pay platform. M.Pay users are able to use their LTC balance to directly withdraw cash from various ATM. M.Pay also allows its customers to send money from other countries to South Korea.
13. San Diego International Film Festival
The Litecoin Foundation tried to introduce Litecoin to various different industries. Back in October 2019, Litecoin Foundation announced that they have partnered with the San Diego International Film Festival to help the adoption of LTC. The attendees of 2019's San Diego International Film Festival or SDIFF were given free Litecoins as long as they purchased the 6 days festival pass. The hope was that Litecoin would get much bigger exposure in the non-crypto community.
SafePal is another crypto wallet that tries to help casual users to manage and store cryptocurrencies easily. Back in September 2019, SafePal announced its partnership with Litecoin Foundation to allow LTC integration into SafePal wallet.
SafePal has boldly claimed that their cold storage is the only crypto wallet application that successfully attracted interests from top blockchain companies, including Binance.
Demand for cryptocurrencies have been going up and Litecoin Foundation has been always trying to find new ways to integrate LTC into new wallet applications. Ellipal is one of the newer hardware crypto wallet companies that try to make its hardware wallets directly compatible with modern smartphones.
Ellipal tries to tap into a hardware wallet market but with primary focus on smartphones (instead of desktops and laptops). With this partnership, Ellipal hardware wallets have successfully adopted Litecoin into one of its supported cryptocurrencies.
Aliant Payment is a US-based merchant and credit card processing service. Back in early 2018, Aliant announced that it has integrated Litecoin (LTC) into its ecosystem. Litecoin was not the first cryptocurrency adopted by Aliant. The same company actually adopted Bitcoin solution in Q3 2017 and Ethereum in Q4 2017.
Wirex is a famous digital payment platform to exchange and spend multiple cryptocurrencies in all over the world. Wirex claims its platform is accepted by over 40 million locations and merchants worldwide. That means as long as your favorite cryptocurrency is supported by Wirex, the same crypto can also be spent on 40 million different locations. Wirex also allows its users to spend crypto and let the recipient of this crypto payment to receive the money in his local bank account through the wire transfer mechanism.
And the good news is that Wirex itself has adopted Litecoin into its ecosystem. You can enjoy wide range of Wirex's services and pay with LTC.
Just like Travala, TravelByBit allows you to book flights and hotels via cryptocurrency payments. And as expected, TravelByBit also allows different famous altcoins to be used on its platform, including Litecoin. The Litecoin Foundation even announced TravelByBit to be its travel partner. With this strategic partnership, TravelByBit allows its customers to book over one million flights and hotels worldwide with LTC. TravelByBit was also invited by Litecoin Foundation to attend Litecoin Summit last October.
19. Oppenheim Law
Oppenheim Law is a famous law firm in Weston, Florida, who handles business-related and real estate issues in the region. In 2017, particularly on August 28th, 2017, Oppenheim Law released a press release that basically said that it adopted cryptocurrency payment for its services. The three main cryptocurrencies that Oppenheim Law adopts are Bitcoin, Ethereum, and Litecoin.
With this integration, Litecoin has proven itself to be one of the most adopted cryptocurrencies by the traditional/mainstream industries. There are not many altcoins you can use to pay for law-related services, but LTC has successfully broken that barrier.