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richie

A new partnership established by Litecoin and TokenPay

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Holders of Litecoin will be very happy, after hearing that payments through the digital currency would be facilitated by LitePay.

Litecoin Foundation secured a new strategic partnership along with TokenPay and both have reached an agreement to have a joint possession of German WEG Bank AB. Due to recent developments that saw 9.9% of WEG Bank acquired by the firm, TokenPay has become a popular name. The remaining 90% of the bank may yet be purchased by the firm immediately after regulatory approval. This new purchase will be in exchange for aid with marketing and development.

 

Charlie Lee (Litecoin founder) will work with TokenPay to “implement many new additions to TokenPay’s suite of built-in product offerings”.

He also said in an official release that:

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I’m looking forward to integrating Litecoin with the WEG Bank AG and all the various services it has to offer, to make it simple for anyone to buy and use Litecoin.

 

As regards the deal, Matthais von Hauff (CEO of WEG Bank) said that:

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We have thoroughly and diligently examined the prospects of a common future, and we became convinced that the future of banking will make adoption of such modern payment methods inevitable.

 

Litecoin holders have embraced this news after being left burned by the sudden shutdown of LitePay earlier this year. The launch of this venture was tailored towards offering a debit card as well as a dedicated cryptocurrency wallet, which would have made it possible for customers to concert Litecoin to US dollars.

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