The lead developer of the Monero’s development team tweeted on January 26 about his excitement for the possible partnership with Litecoin.
This would create the ability to do on-chain atomic swaps of LTC and XMR. Currently, traders need to first sell their coin for Ethereum or Bitcoin and THEN purchase either LTC or XMR. On-chain atomic swaps would provide a seamless way to convert LTC into XMR or viceversa. This gives easy liquidity for Monero users while also providing anonymity for Litecoin users.
The collaboration between the two cryptocurrencies will pave a path for cross-chain atomic swaps which is the most awaited development for the year.