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   131

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. 

San Francisco to host Global Litecoin Summit

Global Litecoin Summit is coming to San Francisco for 2 days on September 14-15
26 June 2018   188

Global Litecoin Summit will be held on September 14-15 at South San Francisco Conference Center. Main partners of the event are Reaction Audio Visual, LiteVault and CoinGate. Day 1 will be focused on educating with lecture-style sessions. The program for Day 1 is as follows:

10:00 - 10:45 Keynote
10:45 - 11:30 Banking with crypto
13:00 - 13:30 Rootstock and smart contracts
13:30 - 14:15 Lightning and Layer 2
14:30 - 15:00 The cryptocurrency payments industry
15:30 - 16:00 Designing decentralized finance
16:15 - 17:15 Litecoin foundation roundtable
18:15 Networking

Day 2 will deal with Litecoin Expo with over 50 businesses booths and presentations. More details are available here. Litecoin (LTC) market indicators at the moment of publication are as follows:

Average price 83.24 USD
Market cap 4,755,436,092 USD
Volume (24H) 483,379,000 USD