Litecoin [LTC] on an adoption spree; added as a collateral option on Nexo

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Litecoin [LTC] witnessed significant adoption this year, both in the traditional sense and in the cryptosphere. LTC, today, has established itself as one of the most preferred altcoins among investors and traders around the world. The digital silver has now been added as one of the collateral options for instant credit lines of Nexo, a digital currency loan provider.

Nexo made the announcement through its official Twitter handle, stating,

Source: Twitter

Their blog post stated,

“Allowing LTC Holders to borrow against their assets rather than sell them when they need access to instant cash adds an incredibly powerful utility feature to LTC.”

Apart from the latest addition, the platform supports options BTC, ETH, XRP, and BNB options, including its native crypto, NEXO. The partnership will simplify selling pressure and make “LTC HODLing” easier in the long run, leveraging the firm’s instant credit lines, a powerful tool for developing tax-efficiency, claimed Nexo in the post.

Litecoin penetrated the entertainment space this year, following its partnership with K-Pop concert production company C&U Entertainment Global, to promote Litecoin [LTC] for the ‘Feel the K-Pop concert’. The virtual asset also forayed into the world’s premier stand-up combat league, facilitating global exposure for LTC after its collaboration with GLORY, an International Kickboxing organization.

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Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.

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