Crypto news Today TokenPay Sells 9.9% Stake In Germany’s WEG Bank To Litecoin FoundationJuly 12, 2018
Crypto news Today
- In a strategic tie up, Litecoin Foundation has acquired 9.9 percent stake in Germany's WEG Bank AG from TokenPay Swiss AG, a crypto-to-fiat payments firm.
- TokenPay said it transferred its shares in the German bank to Litecoin Foundation in exchange for the latter's technical assistance in advancing the bank's plans to bring cryptocurrency payment solutions to customers and working with TokenPay on its various blockchain projects
Crypto news Today In a vital tie up, Litecoin Foundation has procured 9.9 percent stake in Germany's WEG Bank AG from TokenPay Swiss AG, a crypto-to-fiat installments firm.
TokenPay said it moved its offers in the German bank to Litecoin Foundation in return for the last's specialized help with propelling the bank's intends to convey cryptographic money installment answers for clients and working with TokenPay on its different blockchain ventures.
The assets for the procurement were raised through a token deal led in December, TokenPay said.
TokenPay's blockchain activities incorporate TPAY Cryptocurrency, eFin Decentralized Exchange (DEX), TokenSuisse Asset Management, WEG Bank FinTech Platform, and Multisignature Transaction Engine.
The Litecoin Foundation is a Singapore-based non-benefit association that advances the well known Litecoin (LTC) digital money.
As indicated by a declaration from TokenPay in May, the assets for the obtaining were gotten from a token deal led in December 2017.
Propelled in 2015, TokenPay fabricated its own blockchain convention and local TPAY token with an end goal to encourage adaptable crypto-to-fiat exchanges.
WEG Bank particularly centers around offering money related administrations to land clients. The bank's organizer and CEO, Matthias von Hauff, said the arrangement was not at first anticipated from an "extremely traditionalist" organization, for example, itself, and just occurred after much considered the fate of digital currency.