Litecoin founder Charlie Lee posted on Reddit today, July 17, to clarify his position within the Litecoin Foundation and the future of the Foundation following its acquisition of a stake in German bank WEG Bank AG.
In his post, Lee mentioned the possibility of the bank offering crypto services.
Last week, the Litecoin Foundation acquired a 9.9 percent share in WEG Bank through a new strategic partnership with crypto-fiat payments firm TokenPay.
In exchange for providing its blockchain, logistics, and marketing expertise to TokenPay’s crypto and business operations, Litecoin received TokenPay’s former 9.9 percent stake in WEG.
He added that, even if they are unable to work with the bank in pushing for crypto services, the Litecoin Foundation will benefit financially from their stake.
Litecoin founder Charlie Lee provided some details about recent acquisition of Litecoin Foundation, and stated that he expects to receive a board position at the German WEG bank, which will positively influence the further adoption of cryptocurrencies in the bank’s operations.
TokenPay Swiss AG announced its partnership with Germany’s WEG Bank yesterday, which sees the decentralized and self-verifying payment platform acquire 9. 9 percent of the bank. The other 90 percent of the bank is will reportedly be purchased pending mandatory regulatory approval.
The acquisition is part of a broader deal between the foundation and TokenPay crypto company, which includes LTC support for TPAY and EFIN coins, and eFin virtual exchange.
Litecoin Foundation объявила о заключении стратегического партнерства с блокчейн-стартапом TokenPay, в рамках которого компании совместно приобрели долю немецкого WEG Bank. Ранее TokenPay Swiss AG, банковская криптовалютная платформа, объявила о своем партнерстве с WEG Bank в Германии.
In May 2018, TokenPay Swiss AG joined with WEG Bank in Germany. The former attained a 9. 9 percent stake in the bank, along with the option to purchase as much as 90 percent, pending regulatory approval.
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.
Coinome hailed as India’s ‘safest exchange’, announced recently that they will be launching new trading pairs for XRP. This comes after the Reserve Bank of India asked financial institutions to not conduct transactions with cryptocurrency exchanges.
One of the 12 regional Reserve Banks in the US central banking system, The Federal Reserve Bank of St. Louis, have added four cryptocurrencies to its database. Bitcoin, its off-spring from a fork, Bitcoin Cash, Litecoin, and Ethereum are the four cryptocurrencies which were chosen and daily data on their prices will be listed on […]
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The crypto verse is never short of drama and while hacking vibes dominate, Charlie Lee of Litecoin is advocating rationalism. Obviously, after recent hacks, it’s easy to see sentiment almost always flips and drag BTC prices with it.
The Federal Reserve Bank of St. Louis will now be tracking the prices of four cryptocurrencies on their research database, according to a June 19 post on the bank’s website. The database, called the Federal Reserve Economic Data (FRED), will now include the prices of Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) from
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