Litecoin partners with TokenPay to purchase stake in German Bank

11 Jul, 2018
by Ryan Boltman
News
Litecoin partners with TokenPay to purchase stake in German Bank

The founder of Litecoin, Charlie Lee announced the partnership on Twitter confirming the partnership with TokenPay

The Litecoin foundation will be partnering with decentralized payment platform TokenPay, with the focus being on acquiring a stake in German WEG Bank AG. 

One of the focuses of the strategic partnership in acquiring a stake in a bank is to work on providing crypto debit cards solutions and continue conversing with government regulatory bodies regarding the crypto space.

TokenPay has acquired 9.9% of the bank with the option to purchase a further 90% pending customary regulatory approval. 

TokenPay also decided to partner with Litecoin foundation to assist with marketing and technology services including high level blockchain mechanization capabilities. 

"This partnership is a huge win-win for both Litecoin and TokenPay. I’m looking forward to integrating Litecoin with the WEG Bank AG and all the various services it has to offer, to make it simple for anyone to buy and use Litecoin." - Charlie Lee 

 TokenPay are looking to become a decentralized exchange offering asset management with TokenSuisse, a Fintech Platform, as well as offering a multisig transaction engine. 


“Our ecosystem consisting of the TPAY blockchain, WEG Bank, TokenSuisse and Litecoin Foundation provides us with a tremendous opportunity regarding merchant solutions, along with a strong and diverse customer base for our crypto debit card business,’ said Dr. Jorg E. Wilhelm, head of the supervisory board of TokenPay Swiss AG. “The tangible reality of bridging the gap between the old and new world is electrifying.”

The future looks bright for TokenPay and Litecoin. 

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Read more about: Litecoin (LTC)

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