The Litecoin Foundation has concluded a new agreement with TokenPay Swiss AG, decentralized project, the market for payment services. Under the agreement, the Fund Litecoin gets 9.9 percent of shares, previously owned by TokenPay, WEG Bank AG, located in Germany.
WEG Bank appealed to TokenPay in December 2017, to develop solutions in the field of new economy. Platform TokenPay considered appropriate because it binds cryptocurrency and Fiat services, while meeting the law and all the requirements (AML, KYC) requirements for German banks.
TokenPay intends to use the Litecoin blockchain to maximize the productivity of their own blockchain, its cryptocurrency and decentralized TPAY exchanger eFin.
Despite the fact that WEG is a traditional Bank financial institution, General Director Matthias von, Howe expressed approval and support for the new partnership.
Charlie Lee, managing Director of the Fund and the founder of Litecoin, this cryptocurrency commented on the new agreement:
This partnership is a huge win for both Litecoin and TokenPay. I look forward to the possibility of integration with Litecoin WEG Bank AG and the services it provides. I am also very glad that a decentralized exchanger eFin will now support Litecoin.
In the Wake of the news, the price of Litecoin reached $ 80, but are unable to fixate there. Whether this cryptocurrency to overcome the General downward trend is unclear.