Luno, a top cryptocurrency exchange in South Africa and Nigeria, has announced that they will add Litecoin (LTC) next week.
Litecoin will be added to the Luno exchange on May 11, with trading commencing on May 12. It will be the fifth cryptocurrency to be listed on the exchange.
“We can confirm that LTC will go live to all customers on the 11th of May. Customers will be able to create their LTC wallets, send/receive, and use instant buy/sell. The exchange will be in post-only mode on Monday 11th, and will be in full post mode on Tuesday 12th May.” – a member of the Luno Africa team said.
Luno is very popular in Nigeria and South Africa and has recently entered the Ugandan market. Also, Luno is the most popular exchange in Malaysia.
Litecoin has gained relatively low adoption on the African continent as a handful of exchanges support it, and there is very little community around it. However, this new addition might give Litecoin a boost in presence on the continent.
Litecoin is a cryptocurrency launched in October 2011. It has been branded as a quicker version of bitcoin and is currently the 7th highest cryptocurrency by market cap.
Charlie Lee, the lead developer, is an MIT graduate and former employee of Google and Coinbase. In the past few days, Litecoin has recorded up to 7% gains as cryptocurrencies see an uptrend.
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