No, Walmart isn’t accepting crypto payments in Litecoin
Walmart has been rumored to be developing a digital currency strategy, but the retail giant isn't ready to start accepting cryptocurrency just yet. Walmart on Monday confirmed that a press release, which stated that the retailer was going to offer a pay-with-Litecoin option, was a fake. GlobeNewswire, a press release distributor, distributed the fake press release earlier Monday.
The hoax sent the value of Litecoin soaring nearly 30% to about £225 on Monday morning, according to CoinDesk.
It has since dropped back down to around £178. While the release sent Monday was fake, Walmart does appear to be exploring how it could work with cryptocurrencies in the future. Last month, a career listing on the retailer's website said it was looking to hire a cryptocurrency product lead who would develop the company's digital currency strategy and road map.
A representative for the Litecoin Foundation said Monday that it hasn't entered into a partnership with Walmart, adding that the group has "no idea where this story came from." Walmart directed further questions to GlobeNewswire, which also verified that the release was fake in a "notice to disregard" the earlier information. GlobeNewswire didn't immediately respond to a request for comment.
The hoax release included fake quotes from Walmart executives.Screenshot by CNET
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