Although the news from the Litecoin Foundation was released before Christmas about the new imminent Litecoin payment system, only now have we got an idea of when this might be, any day it seems!
The website has announced that signups for Litepay will commence early February. What Litepay are offering is the ability to spend your Litecoin just about anywhere.
As far as we can see the Litepay service is not dissimilar in their business model to Bitpay, they offer merchants the ability to accept Litecoin easily, they also offer a debit card solution so anyone with a Litepay wallet can spend their wallet funds via Visa debit card.
Many people are expecting the value of Litecoin to surge on this news and indeed we have seen a 25%+ increase in the value of Litecoin over the past 24 hours, however, whether it can sustain these excessive gains in this highly volatile period we find ourselves in, we will have to see.