College Crypto Vol. 15 Litcoin Foundation Purchases Acquires 9.9% of Germany's WEG Bank | TokenPay Partnership
Noah Ramos W.P. Carey School of Business, Studying Economics
Blog Release: https://globenewswire.com/news-release/2018/07/10/1535672/0/en/TokenPay-and-Litecoin-Announce-an-Extensive-Crypto-Strategic-Partnership.html
Cryptocurrency Marketcap: $273,118,618,663 on Coinmarketcap!
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TokenPay Acquisition of 9.9% of German WEG Bank
TokenPay announced that it acquired 9.9% of the German WEG Bank and has agreed to forward this stake of the bank to the Litecoin Foundation in exchange for the Litecoin Foundation's marketing strategy. In addition, an agreement offering Litecoins Blockchain and Cryptocurrency technology as well as expertise to TokenPay was completed with an option to buy out another 90% of the company given customer regulatory approval according to globenewswire.com.
Advantages of Partnership
- Litecoin Technology on TokenPay Cryptocurrency
- EFin Decentralized Exchange
- TokenSuisse Asset Management
- Multisignature Transaction Engine
WEG Bank is a German Institution that has real estate renovation branches and has announced that it will implement a separate sector aided by the use of Blockchain technologies available to its customers in the future. This is important for the Lightning Network as off channel payments will be applicable to real estate renovations and building timelines.
Conclusion / Summary
In Vol.15 of College Crypto, we took a look at the TokenPay partnership with the Litecoin Foundation in additoin to there acquisition of the WEG German Bank shares that were passed onto the Litecoin Foundation, helping to aid the development and adoption of Litecoin. With these adoptions, Litecoin has seen a significant increase in price, approximately 7% in the past 24 hours according to Coinmaketcap. Thank you for joining me, Noah Ramos, for Vol. 15 of College Crypto. If you would like to see more content like this get better, please leave a comment and an upvote or even a donation if you found this useful; please feel free to reach out to me via email, Instagram, or the College Crypto Facebook group in the link below!
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