TokenPay, a large contributor in the crowdfunding that see Verge (XVG) partner with Pornhub has successfully acquired a stake in a Munish based WEG Bank AG, in Germany. And there is possibility that the firm may lure Litecoin and Verge into the partnership.
The deal, according to TokenPay, is officially closed, and the shares have been transferred. Also the timing is in line with the whitepaper Roadmap Projections of the blockchain firm. WEG Bank had since, transferred to TokenPay Swiss AG, the share certificates representing 9.9% of the equity interest.
It as well, gave the blockchain firm the option to acquire an additional 80.1% of the bank upon customary regulatory approval.
In the announcement by TokenPay, it was declared that the proceeds of this transaction were derived from the firm’s December 2017 token sale.
“Today we are announcing that we have officially closed a deal with WEG Bank AG, located in Germany.”
In the same vein, Lichtenstein Bank has approached TokenPay for a similar partnership.
TokenPay May Lure Litecoin And Verge Into Acquiring Bank In Germany.
The uproar that came after the unveiling of Verge’s mystery partnership created room for discussions and opportunities. During the process, Litecoin and TokenPay CEOs discussed a possible partnership that was later confirmed.
When Litecoin Founder, Charlie Lee, and Derek Capo, CEO at TokenPay were discussing, the later indicated that TokenPay has partnered with Verge and that they, TokenPay, are buying a bank in Germany and will be using Verge as their banking solution.
“1. If @tokenpay did not donate the deal does not happen.
2. @tokenpay has a partnership with @vergecurrency for our banking solution (we are buying bank in Germany).
3. More partnerships between crypto is important. TokenPay also benefits in helping large community, etc.”
Daren then talked about partnering with Litecoin on debit card production and if possible buying bank in Germany.
“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.”
“Thanks. Let me know if there’s anything I or the Litecoin Foundation can do to help,” Charlie replied.
The Partnership Confirmed!
It is interesting to note that Litecoin and TokenPay did not reveal what the partnership was all about till now, but it was confirmed in a tweet by TokenPay that the two cryptocurrencies have entered into a Non-Disclosure Agreement.
“#TokenPay CEO @derekcapo Interview with Sean Davis. THE $TPAY ECOSYSTEM EXPLAINED.$XVG Deal $LTC NDA Signed”
It is possible that the agreement may not be on debit card, however, it is possible that it is on owning a stake in the bank since there is more room for that.
If things work out, Litecoin and Verge, who lately became a confidant of TokenPay may be working with the blockchain firm to acquire more stake in the Germany-based bank.
