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No, Walmart is not partnering with litecoin for payments, spokesperson says

Exterior view of a Walmart store on August 23, 2020 in North Bergen, New Jersey. (Photo by Kena Betancur/VIEWpress via Getty Images)

A press release on Walmart Inc’s partnership with cryptocurrency litecoin was not authentic, a company spokesperson confirmed on Monday.

An email to a contact person given in the statement remained ‘undeliverable,’ while the announcement was not found on Walmart’s website.

A Walmart spokesperson confirmed to CNBC and later, Reuters, that the press release was not real.

Read more: Cryptocurrency could become an Edmonton election issue

Litecoin did not immediately respond to Reuters requests for comment.

The purportedly fake statement said Walmart would allow its customers to make payments with litecoin at its online stores sent litecoin prices up as much as 27.4 per cent.

It quickly gave up most of those gains and was last trading up about five per cent.

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This is a developing story. More information to come. 

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