BENTONVILLE, Ark. , September 13, 2021 (GLOBE NEWSWIRE) – Walmart Inc. is pleased. (NYSE: WMT), the number one US retailer and the world’s largest grocery company, announced a major partnership with Litecoin. The e-commerce giant intends to give millions of shoppers around the world the chance to make payments seamlessly using cryptocurrencies.
“The momentum and excitement around the use of cryptocurrency is undeniable, and we are ready to make online shopping easy for our customers. As a leading e-commerce store, we are committed to bringing innovations to the online shopping experience. By integrating Litecoin, we enable shoppers to experience an extremely seamless checkout experience. With virtually instant transaction confirmation and near-zero fees no matter where in the world they are. We are very excited to work with the Litecoin Foundation, and further innovate our business. On October 1, all e-commerce stores will have implemented the “Pay with Litecoin” option, he said Doug McMillon, CEO of Walmart.
Walmart has been one of the first users of blockchain technologies, beginning in 2016 to experiment with a digital ledger to improve its supply chain. Now, through this partnership, Walmart will offer its shoppers to use Litecoin to take advantage of the features of the cryptocurrency.
Charlie Lee, Litecoin Creator and CEO of The Litecoin Foundation shared, “The extremely low LTC fees and fast transaction times are perfect for a leading e-commerce store like Walmart. We are very pleased and excited that our cryptocurrency is now supported by Walmart, which opens up even more opportunities for any merchant to accept Litecoin. In the future. “
Why Litecoin? Litecoin was released in 2011 and is one of the oldest digital currencies in the crypto ecosystem. Litecoin (LTC) is similar to Bitcoin (BTC), in that it uses the same token as the latter, and shares many similarities. However, Litecoin is cheaper and faster than Bitcoin. Litecoin is also a peer-to-peer cryptocurrency that facilitates cross-border transactions and enhances digital payment systems. Like Bitcoin, Litecoin does not have a central authority.
Litecoin is designed to be used for cheaper transactions, and to be more efficient for everyday use. While Litecoin requires a more complex mining technology than Bitcoin, blocks are actually created four times faster. Litecoin also processes financial transactions a lot faster.
Walmart Inc. helps (NYSE: WMT) People around the world are saving money and living better – anytime, anywhere – in retail, online and through their mobile devices. Each week, approximately 220 million customers and members visit nearly 10,500 stores and clubs under 48 banners in 24 countries and e-commerce sites. With fiscal year 2021 revenue of $559 billion, Walmart employs 2.2 million employees worldwide. Walmart continues to lead the way in sustainability, corporate philanthropy, and employment opportunities. Additional information about Walmart can be found by visiting enterprise.walmart.com, on Facebook at facebook.com/walmart and on Twitter at twitter.com/walmart.
Senior Vice President and Chief Marketing Officer
Source: Wal-Mart Corporation