Litecoin Foundation covers 9.9% of Bank in Payments Partnership

Litecoin Foundation covers 9.9% of Bank in Payments Partnership
фото показано с : bitcoints.com

2018-7-11 16:43

Litecoin Foundation, the non-profit that supports the popular cryptocurrency, has acquired a near 10 percent stake in a German bank.
The deal comes as the result of an agreement with TokenPay, a crypto-to-fiat payments firm, according to an announcement on Tuesday.
TokenPay has now passed ownership of the 9.9 percent of equity in WEG Bank AG 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.
Charlie Lee, managing director of the Litecoin Foundation, said in the release:

“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.”
The firm eventually plans to exercise its option to purchase the remaining shares of the bank if approved by German regulators, it said.

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