— Charlie Lee [LTC] (@SatoshiLite) May 18, 2018
Toshi, is a wallet like system that provides a range of services for crypto investors. At present, Toshi focuses on Ethereum based products, however a recent tweet, re-tweeted by Charlie Lee, the founder of Litecoin, suggests that Litecoin could be next up on the growing Toshi system.
To compliment this, Toshi have also posted a Medium post, confirming this rumour.
According to Siddharth Coelho-Prabhu of Toshi:
“Toshi users often tell us they love the power and simplicity of our user-controlled wallet, where they can securely store and manage assets available on the Ethereum blockchain — Ether, ERC20 tokens and ERC721 collectibles. One of the most-requested features however is support for other popular cryptocurrencies. We’ve heard you and want to let you know that we’re working on adding support for other cryptocurrencies available on Coinbase — Bitcoin, Bitcoin Cash, and Litecoin — to Toshi! We don’t have an official release date yet but will keep you posted as we get closer to launching support.”
This is a very exciting prospect for Litecoin as it could in turn encourage some new users to start getting to grips with the Litecoin system. Moreover, it does put Litecoin in good stead for complete mobile integration, a form of adoption that Litecoin really do seem to strive for.
At present, Litecoin isn’t having the best time on the market, so this news from Toshi could be met very well. Once the Litecoin integration goes live, we could see the price of Litecoin make some significant moves, hopefully, this happens sooner, rather than later, that way we can ensure Litecoin recovers from its current drought.
At the time of writing, Litecoin is valued at $133.28 and is down 3.71%.
Of course, this decline has been influenced by the poor market conditions we are seeing of late. Overall, the markets have been in a decline for a week now, pushing the values of major currencies right down.
Bitcoin however is expected to lead a new charge up soon enough and therefore, with this in mind we would expect Litecoin to latch on too. Hopefully then, these current figures are but a distant memory in a few weeks. After this point, we can start to get a better idea of how important this new Toshi integration could be for Litecoin.