The decision comes months after Coinbase’s digital asset exchange, GDAX, added support for litecoin trading, though the startup has long teased the prospect of additional litecoin integrations – its creator, Charlie Lee, serves as the startup’s director of engineering.
Overall, it’s the latest notable boost for the older cryptocurrency, which has seen its public profile rise recently amid news of its forthcoming adoption of the scaling solution SegWit. That adoption has signaled the possibility for additional tech upgrades (not to mention a rising price).
In statements, Coinbase positioned its litecoin integration as part of a larger strategy, explaining:
“At Coinbase, our mission is to create an open financial system for the world. We’re paving our path to that goal by creating the most trusted and easiest way to buy [and] sell digital currency.”
Litecoin is unlikely to be the last blockchain token added to the startup’s online service, Coinbase went on to indicate.
“This [integration] is part of our shift to supporting more types of digital assets over the coming year,” the company said.
Litecoin image via Shutterstock