Coinut, a leading digital asset exchange, has launched Wrapped Litecoin ($WLTC), a wrapped version of Litecoin that bridges Litecoin into the Ethereum DeFi ecosystem, marking a significant development in cross-chain interoperability.
Coinut Launches Wrapped Litecoin, Source: X
WLTC is an ERC-20 token fully backed 1:1 by Litecoin, enabling Litecoin holders to engage in Ethereum’s DeFi services, such as trading, staking, and yield farming, without needing to sell their LTC.
This integration allows Litecoin to participate in Ethereum-based applications and smart contracts, thus broadening its use case and liquidity across decentralized exchanges (DEXs).
WLTC’s launch follows Litecoin’s 13-year history as a trusted digital asset and brings a new level of flexibility to Litecoin’s user base. The Ethereum integration offers fast and cost-effective transactions, appealing to users seeking seamless access to DeFi opportunities.
Coinut has ensured robust security for WLTC by partnering with Coinbase for cold storage and Fireblocks for efficient hot wallet management.
The Litecoin Foundation supports the Wrapped Litecoin initiative, emphasizing its potential to expand Litecoin’s utility and adoption. Coinut’s collaboration with trusted custodians and the Litecoin Foundation underscores WLTC’s commitment to providing a secure and reliable asset for users exploring Ethereum’s ecosystem.
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