It is part of success to welcome criticism, it is part of success to come together after criticism and work things out with a smile. This could be said about the aftermath of the disagreement between Token Pay (TPay) CEO Derek Capo and Litecoin (LTC) Founder Charlie Lee on April 7, when Verge (XVG) announced a partnership with PornHub.
Charlie turned to Twitter to raise opprobrium on the announcement saying, “Turns out Verge’s super expensive partnership was PornHub. “we think it has gained enough steam for us to penetrate the market.” penetrate. @Pornhub, enough with the foreplay. Time to accept the real cryptocurrencies like BTC, LTC, and XMR.”
The Litecoin founder maintained that the partnership was money induced for the fact that Verge earlier announced a crowdfunding purposely to help seal a partnership with a platform that has a very high daily user.
Charlie said: “I think having more places to spend crypto is good. But I do hope they accept more than just Verge. It’s quite hard for people to get XVG just to spend on PornHub. It’s a step forward, but having to buy a partner is not a good precedent. Merchants shouldn’t need to be bribed.”
The attack by Charlie did not go down well with TokenPay Founder. He disparaged Charlie for failing to support the crowdfunding but criticizing the development.
TokenPay Founder replied: “I am sure you pseudo bribed to have coinbase have litecoin……former employee, favors, etc. Same thing.”
Turns out Verge's super expensive partnership was PornHub. “we think it has gained enough steam for us to penetrate the market.” penetrate. 😂@Pornhub, enough with the foreplay. Time to accept the real cryptocurrencies like BTC, LTC, and XMR. 🚀
https://t.co/9IboL6LnNn— Charlie Lee [LTC⚡] (@SatoshiLite) April 17, 2018
The Beginning Of TokenPay-Litecoin Partnership.
After Daren made known to Charlie Lee that his firm was instrumental to Verge sealing the deal, he told Charlie Lee to come for a partnership.
“No problem, so when do you want to talk about a REAL debit card solution? We are buying 9.9% of a bank in Munich with option to buy 90%. We have a whole ecosystem and plan in place. Let me know how we can work together. The battle between old and new world is just getting started”
“They key to making this all work is ecosystems, partnerships and constant communication with regulators. Buying a bank in Germany gets us a seat at regulator table, key to educating governments. As for $LTC we can add to our bank, debit card, gift cards etc.”
Interestingly, Litecoin accepted the offer but failed to disclose what the partnership was all about.
Afterward, TokenPay announced it has acquired 9.9% stake in a German-based financial institution, WEG Bank. The deal came with an option to acquire approximately 90% overall of the bank pending the customary regulatory approval.
To the cryptocurrency world’s dismay, the 9.9% stake was transacted to the benefit of Litecoin Foundation, TokenPay announce.
However, it is in “exchange for a broad and comprehensive marketing and technology service agreement to benefit TokenPay and its related cryptocurrency and business operations”.
Mr. Charlie Lee sees the partnership as a huge win-win for both Litecoin and TokenPay, saying he is looking forward to integrating Litecoin with the WEG Bank AG and all the various services it has to offer.
Remember, Ethereum World News had earlier forecasted that there is possibility TokenPay may lure Litecoin and Verge into acquiring a stake in WEG bank. While that of Litecoin has come into fruition, we are still expecting that of Verge, an important alley to TokenPay.
