Litecoin Foudation to Purchase 10% of WEG Bank AG Shares

The acquisition of shares was the result of an agreement with the company TokenPay
11 July 2018   410

The non-profit organization Litecoin Foundation, which supports the popular crypto currency, announced the acquisition of almost 10% of the shares of the German bank WEG Bank AG.

As noted in the press release, the acquisition of shares was the result of an agreement with the company TokenPay, which operates with the transfer of assets from crypto-currency to fiat and vice versa.

It is reported that TokenPay transfers 9.9% of shares of the German bank WEG Bank AG to Litecoin Foundation to pay for technical support and the introduction of cryptocurrency payments for TokenPay customers.

This partnership is a huge win-win for both Litecoin and TokenPay. 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. I’m also excited about Litecoin’s support in TokenPay’s eFin decentralized exchange.
 

Charlie Lee

Managing Director of the Litecoin Foundation

TokenPay purchased part of WEG Bank shares in May.

The partnership with innovative institutions such as TokenPay and Litecoin might at first come unexpectedly for a very conservative institution like us. But 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. We are therefore proud to have teamed up with the best in the field.
 

Matthias von Hauff

Founder and CEO, WEG Bank AG

Rumours about possible cooperation between TokenPay and Litecoin Foundation appeared back in April. 

Lite.IM Beta to be Released

Lite.IM will allow users to interact with Litecoin blockchain using text commands through a special API-system
09 August 2018   341

Developers of the Zulu Republic blockchain project presented Lite.IM software that allows users to make transactions in the Litecoin network using SMS messages and the Telegram messenger.

Zulu Republic is convinced that Telegram is the safest messenger and provides all the necessary opportunities for testing the concept before launching SMS payments.

Representatives of the project emphasize that a lot of people live in countries with limited access to the Internet, under conditions of strict censorship by political regimes, without access to financial services. In addition, 64% of the world's population owns mobile phones, but only 33% have smartphones. This is the reason why Zulu Republic is convinced of the need to link SMS messages and Litecoin blockchain, not relying on the availability of the Internet.

By opening the world of cryptocurrency to these underserved and vulnerable populations, we aim to provide a degree of financial agency, autonomy, and (perhaps most importantly) security that they’ve been denied up until now.
 

Zulu Republic

Lite.IM will allow users to interact with Litecoin blockchain using text commands through a special API-system. At the moment the community already has the opportunity to use Telegram-bot to check balances and send Litecoin to LTC-addresses or e-mail. The solution is written on JavaScript. More info is available at GitHub.

The creator of "digital silver" Charlie Lee is convinced that the bear market allows us to focus on developing solutions for mass adoption of technology.