Litecoin joins TokenPay: Two days ago, the Litecoin Foundation announced that it had entered an extensive strategic partnership with TokenPay and acquired nearly 10% of the German bank WEG Bank.
I’m excited to announce that @LTCFoundation[1] and @TokenPay[2] have entered into a strategic partnership to buy a stake in a German bank, WEG Bank AG. We plan to work on many exciting consumer-driven crypto solutions. Stay tuned! 🚀
For more info: https://t.co/K58SpQKvEl pic.twitter.com/6agmsa7wkb[3][4]
— Charlie Lee [LTC⚡] (@SatoshiLite) July 10, 2018[5]
Litecoin Joins TokenPay
The press release explains[6]:
“Today, this 9.9% stake in WEGBank was further transacted to the benefit of Litecoin Foundation in exchange for a broad and comprehensive marketing and technology service agreement to benefit TokenPay and its related cryptocurrency and business operations. As a result of this partnership, TokenPay and Litecoin combine as a leading force in creating and delivering to the market modern consumer-driven crypto FinTech solutions.”
Charlie Lee, founder and now managing director of the Litecoin Foundation, states that he is looking forward to the partnership and wants to “make it simple for anyone to buy and use Litecoin.”
TokenPay was started back in 2015 and has built its own blockchain protocol and native token (TPAY) to facilitate stable fiat-to-crypto transactions.
LTC Investors Respond
Some investors aren’t too thrilled that TokenPay has an ongoing partnership with Verge (XVG) and now that Litecoin is involved, they are linked.
He has credibility to lend?
— imaginary_username (@im_uname) July 11, 2018[7]
Others aren’t happy that the Litecoin Foundation is now tied to a bank.
LTC = Banker Coin
— Dr. T (@XRPTrump)
