Coinut, a prominent digital asset exchange, has launched Wrapped Litecoin ($WLTC), a token designed to integrate Litecoin into the Ethereum decentralized finance (DeFi) ecosystem. The new ERC-20 token is fully backed 1:1 by Litecoin, allowing Litecoin holders to access Ethereum’s DeFi services—including trading, staking, and yield farming—without the need to liquidate their LTC holdings.
The introduction of WLTC enhances Litecoin’s utility, enabling its participation in Ethereum-based applications and smart contracts. This cross-chain interoperability significantly expands Litecoin’s liquidity across decentralized exchanges (DEXs), providing users with increased flexibility and new DeFi opportunities.
The launch of WLTC follows Litecoin’s 13 years as a respected digital asset and comes with the promise of fast, low-cost transactions. Coinut has partnered with Coinbase for cold storage and Fireblocks for secure hot wallet management, ensuring the safety of WLTC transactions.
Supported by the Litecoin Foundation, the initiative aims to increase Litecoin’s adoption by integrating it into the rapidly growing Ethereum ecosystem. With the backing of trusted custodians and strong security measures, WLTC seeks to offer a reliable and secure solution for users exploring Ethereum’s DeFi space.
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