Paxos adds Litecoin (available on Coinbase) (LTC) – Litecoin (available on Coinbase) is among the coins being added to the Paxos Trust Company, one of the only companies authorised by the New York Department of Financial Services (NYDFS) to trade these coins.

In addition to Litecoin (available on Coinbase), Paxos has the all clear from the NYDFS to trade in Ethereum (available on Coinbase) (ETH), Bitcoin (available on Coinbase) Cash (BCH), and Stellar (XLM), reports Forbes.

Paxos Adds Litecoin (available on Coinbase)

The Paxos Trust Company began as itBit in 2012 and right from the start, the exchange was attempting to target mainstream adoption via regulatory approval. In 2015, itBit was the first company granted permission by the NYDFS to trade in Bitcoin (available on Coinbase) (BTC). The company became Paxos in 2016 when it moved into additionally targeting blockchain applications that weren’t directly connected to crypto tokens. The trading services remained under the itBit name.

itBit will be what offers custody, escrow, and OTC trading services for Litecoin (available on Coinbase) and the other tokens.

“We’re starting to gain a lot of momentum here,” commented Charles Cascarilla, the CEO of Paxos. “We just keep thinking about how we can add new product that will help our customers.”

This time around, that new product was Litecion, Ethereum (available on Coinbase), Bitcoin (available on Coinbase) Cash, and Stellar. What do you think it will be next time around?

Litecoin (available on Coinbase)’s Charlie Lee is, understandably, excited about the news, tweeting out, “Looks like ItBit will be trading Litecoin (available on Coinbase) soon!”

Any new addition of Litecoin (available on Coinbase), to any sort of platform, is one step more for Litecoin (available on Coinbase)’s #PayWithLitecoin (available on Coinbase) campaign. The more Litecoin (available on Coinbase) becomes available, the more merchants are likely to accept it, and so the cycle continues.

Litecoin (available on Coinbase) Price

Litecoin (available on Coinbase) (LTC) is currently selling for $98.78, which puts the coin up 2.18% in the past 24 hours.

Source: CoinMarketCapIt’s been a rough week for crypto. Litecoin (available on Coinbase) dropped below $100. Bitcoin (available on Coinbase) is selling below $7,000, Ethereum (available on Coinbase) is selling close to $500, and Ripple (available on Binance) is nearly at $0.50.

Is a crypto recovery in sight?