Litecoin Collaborates with Payment Platform in Strategic Partnership

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howlermunkey
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Litecoin Collaborates with Payment Platform in Strategic Partnership

Post by howlermunkey » Tue Jul 10, 2018 7:13 pm

Charlie Lee, the founder of Litecoin, recently took to Twitter to announce a partnership with TokenPay, that will see the two collaborate with a German bank.

TokenPay Buys a Stake in German Bank
TokenPay, a Switzerland-based cryptocurrency payment platform, recently announced that it would be securing a deal with the privately owned WEG Bank in Germany. The bank agreed to sell 9.9% of its equity immediately and gave an option for TokenPay to acquire up to 90% of the bank after the two entities receive approval from regulators.

The press release given by TokenPay noted how German banking laws restrict single entities from owning over 9.9% in a bank without regulatory approval. But upon approval, TokenPay intends to buy as much of WEG Bank as it is “entitled to purchase.”

But with today’s announcement, it has become apparent that the platform also intends to extend an olive branch to other organizations, namely the non-profit Litecoin Foundation, led by Litecoin founder Charlie Lee.


https://www.newsbtc.com/2018/07/10/lite ... rtnership/

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