Flexa is a New York based payment startup and has added Litecoin as its fifth cryptocurrency on their platform. It can now be used as payment in up to 39,250 locations.
Flexa has been making a lot of headlines recently, adding Bitcoin and other major cryptocurrencies as payment options to tens of thousands of stores. Flexa has paired up with Gemini, the startup allows retail stores to accept cryptocurrencies through the same system that Apple Pay is accepted. This means that retail stores can now accept Bitcoin without even storing it since Flexa converts the holdings to dollars with the help of Gemini.
Litecoin has been becoming quite popular as a new addition to multiple platforms with its low transaction fees, fast confirmation times, and an active community of avid supporters and payments enthusiasts. Litecoin is the first cryptocurrency added since its launch to the United States. Charlie Lee appeared heavily impressed with the app, saying that it will help push mainstream adoption.
Flexa is supported in a long list of commonly used retail chains, including Starbucks, Whole Foods, Gamestop and Office Depot. The amount of retailers accepting Flexa can easily expand since it does not require any new infrastructure. If a store already accepts Apple Pay, they can accept Flexa. This ease of use positions Flexa to dominate the cryptocurrency payment market.
Flexa makes it especially easy to spend cryptocurrencies, but it remains to be seen whether holders will be willing to part with them. The retail support expanding, possibly by years end will be a big sign on how successful this endeavor is. Currently in its volatile state, it is easier to hold on to cryptocurrency and see its value go up than to use it to pay for every day things.