The Litecoin Foundation was in urgent need of a bank. This partnership of Litecoin and the German Bank will prove to be great for many crypto-related companies, as it will increase the potentiality to offer banking services to them. Also, it will open up the possibility of Litecoin Debit Cards and a trustworthy source for merchant processing. Tokenpay made partnership with Litecoin as a part of a deal they had made previously, to purchase the bank. Tokenpay can get help from Litecoin Foundation for tech like the Lightning Foundation.
The news is at rage that the Litecoin Foundation has stepped into a strategic partnership with Tokenpay Swiss AG to gain 9.9% of WEG Bank AG in Germany. Resulting of which, both the firms will work together to create modern and consumer-driven crypto FinTech solutions in the Litecoin price market.
Since Tokenpay purchased a stake in WEG Bank AB recently, it now has transferred the 9.9% of ownership to the Litecoin Foundation in order to use strategic marketing and blockchain technology to the maximum level. To be precise, Litecoin’s high-level blockchain mechanization capabilities will provide Tokenpay with great benefit.
This partnership will focus on various important areas, such as, Litecoin price and creation of financial products like debit cards and processing solutions for merchants. It can be seen as a significant step for both the firms as it will build a bridge between traditional banking services and cryptocurrencies, which will I turn make crypto transactions much smoother and easier.
During the last two months, Litecoin price has undergone an extended collapse, shaking the general cryptocurrency ecosystem. Earlier in April this year, the price of Litecoin had dropped by 13%. The Litecoin price currently is $91.92 (Rs. 6294.68). But lately, Litecoin has started to uplift itself again, since it broke into $80.00 territory, competing against the USD.
Tokenpay has established some great relationships in the banking world. Gripping those to form a partnership like this one will have major intimation in the cryptocurrency world.