@LTCFoundation and @TokenPay have entered into a strategic partnership to buy a stake in a German bank, WEG Bank AG. We plan to work on many exciting consumer-driven crypto solutions. Stay tuned! 🚀

TokenPay also announced that their partners at TokenSuisse will integrate Litecoin into their German banking platform (WEG AG), their merchant services platform, and their eFin decentralized exchange.

In the official announcement, Lee remarked:

“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.”

WEG Bank offers financial assistance to real-estate clients. The bank’s CEO, Matthias von Hauff, said he did not initially anticipate the partnership. However, after much thought concerning the future of the crypto space, an agreement was reached.

“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.”

The strategic partnership will focus on several key aspects of TokenPay, including TPAY cryptocurrency and its blockchain, eFin decentralized exchange (DEX) and the EFIN coin, TokenSuisse asset management, and the WEG Bank FinTech platform, which handles consumer debit cards and the TokenPay Multisignature Transaction Engine.

Litepay’s Underhyped Successor

Litepay, although widely anticipated, did not pan out for The Litecoin Foundation as it never came to materialization, despite the hype surrounding it.

Nevertheless, it seems as though TokenPay may be Litepay’s reticent successor. This partnership provides the infrastructure for something similar to Litepay. It will be interesting to see what the future holds for both parties in this newly founded, symbiotic relationship.

Litecoin, currently ranked #6 by market cap, is up over the past 24 hours. LTC has a market cap of $4.51B with a 24 hour volume of $284.48M.

Litecoin is up 2.21% over the past 24 hours.

Cover Photo by Joel Filipe on Unsplash

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Jacob is an avid computer enthusiast interested in the crypto space and PC gaming hardware. When he’s not working on his site or writing articles you can usually find him in the outdoors with his buddies biking, hiking, and hopefully staying out of trouble. He aspires to help the average Joe learn more about computers.

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