Litecoin’s Loafwallet, Cornerstone Team up for New Crypto Pay & Pension Plan (CP3) Program
In a blog post published on October 22nd, Cornerstone Global Management announced a partnership with Litecoin Foundation to integrate Loafwallet into its Crypto Pay & Pension Plan (CP3).
This strategic collaboration will make Loafwallet, Litecoin’s native wallet, the preferred destination for Cornerstone’s highly anticipated employee pay program, CP3, which is set to be officially unveiled on Saturday, October 26th on Cornerstone’s website.
Crypto Pay & Pension Plan is targeted at US-based employees through which they will get the option of converting a part of their income to any or all the three cryptocurrencies – Bitcoin, Litecoin or Ethereum – at the time of receipt. The converted crypto assets will then be automatically transferred to the wallet of the employee’s choice.
The aim of CP3 is to encourage wider use of cryptocurrencies by allowing US employees to participate in the cryptocurrency wave without putting in the effort of visiting an exchange to receive the crypto assets.
The partnership would work well for Cornerstone’s vision as Litecoin Foundation is a renowned non-profit organization whose mission is to advance Litecoin for the good of society by developing and promoting state-of-the-art blockchain technologies. It described Loafwallet as one of the most active and ‘real world adoption’ using groups within the entire crypto space.
The Loafwallet, managed by Litecoin Foundation, has already achieved the milestone of 50,000 customer downloads worldwide and this proposition will only further its popularity among employees and pensioners.
Charlie Lee, Managing Director of the Litecoin Foundation, expressed his happiness at the partnership by saying that the CP3 program will be great for getting Litecoin into the hands of as many people as possible.