THELOGICALINDIAN - Charlie Lee the architect of Litecoin afresh took to Twitter to advertise a affiliation with TokenPay that will see the two coact with a German coffer
TokenPay Buys a Stake in German Bank
TokenPay, a Switzerland-based cryptocurrency acquittal platform, afresh appear that it would be accepting a accord with the abreast endemic WEG Coffer in Germany. The coffer agreed to advertise 9.9% of its disinterestedness anon and gave an advantage for TokenPay to access up to 90% of the bank after the two entities accept approval from regulators.
The columnist absolution accustomed by TokenPay acclaimed how German cyberbanking laws bind distinct entities from owning over 9.9% in a coffer after authoritative approval. But aloft approval, TokenPay intends to buy as abundant of WEG Coffer as it is “entitled to purchase.”
But with today’s announcement, it has become credible that the belvedere additionally intends to extend an olive annex to added organizations, namely the non-profit Litecoin Foundation, led by Litecoin architect Charlie Lee.
I'm aflame to advertise that @LTCFoundation and @TokenPay accept entered into a cardinal affiliation to buy a pale in a German bank, WEG Coffer AG. We plan to assignment on abounding agitative consumer-driven crypto solutions. Stay tuned! ?
For added info: https://t.co/K58SpQKvEl pic.twitter.com/6agmsa7wkb
— Charlie Lee [LTC⚡] (@SatoshiLite) July 10, 2018
TokenPay has aloof transferred its afresh acquired shares in WEG Bank to Lee’s foundation in barter for business and blockchain technology services, which will be a abundant advice in TokenPay’s rapidly accretion ecosystem.
The cryptocurrency payments belvedere wrote:
“Today, this 9.9% pale in WEG Bank was added transacted to the account of Litecoin Foundation in barter for a ample and absolute business and technology account acceding to account TokenPay and its accompanying cryptocurrency and business operations.”
The absolution went on to acknowledgment that the accord will acquiesce for the two organizations to advice bear “market avant-garde consumer-driven crypto FinTech solutions.”
TokenPay is in the bosom of administering a alternation of amplification efforts, that accommodate developing the firm’s in-house cryptocurrency (TPAY) and accessible decentralized exchange, aperture an asset administration close and the best contempo WEG Bank collaboration.
Additionally, the belvedere has hinted at utilizing the WEG Bank affiliation to actualize a cryptocurrency debit card, allowing users to absorb their cryptocurrencies in circadian transactions.
The Swiss-based cryptocurrency belvedere hopes that the Litecoin Foundation’s all-encompassing “blockchain mechanization capabilities” will be of abundant advice appear the above amplification efforts.
Lee acclaimed how this is not a biased deal, but a accommodating relationship, stating:
“This affiliation is a huge win-win for both Litecoin and TokenPay. I’m attractive advanced to amalgam Litecoin with the WEG Bank AG and all the assorted casework it has to offer, to accomplish it simple for anyone to buy and use Litecoin. I’m additionally aflame about Litecoin’s abutment in TokenPay’s eFin decentralized exchange.”
Litecoin TokenPay Partnership: Nearly Three Months in the Making
The flame that started this affiliation was sparked about three months ago back the Litecoin architect alleged out the Verge/Pornhub partnership, backed by TokenPay. Derek Capo, CEO of TokenPay, dedicated the partnership, by dabbling a bit of fun at Coinbase’s advertisement of Litecoin.
After some accidental banter, Capo mentioned that TokenPay had aloof fabricated its aboriginal move to access WEG Bank, and asked Lee if he was absorbed in alive together. Capo wrote:
“No problem, so back do you appetite to allocution about a REAL debit agenda solution? We are affairs 9.9% of a coffer in Munich with advantage to buy 90%. We accept a accomplished ecosystem and plan in place. Let me apperceive how we can assignment together. The action amid old and new apple is aloof accepting started.”
Seeming interested, Lee questioned Capo added about his account for a partnership, catastrophe it off by allurement the Tokenpay CEO to move the chat to a added clandestine setting.
Thanks. Let me apperceive if there's annihilation I or the Litecoin Foundation can do to help. Dm me.
— Charlie Lee [LTC⚡] (@SatoshiLite) April 17, 2018
This best contempo advertisement shows that the altercation amid the two organizations has appear to a close, consistent in an ambitious, yet able affiliation that will be of aid to both parties.
