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   2186

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. 

Binance to GBP Fast Payments & LTC Contracts

Today Binance supports more than 20 fiat currencies through and the LTC / USDT perpetual contract will be launched on Jan 9 at 8:00 UTC
09 January 2020   347

This Wednesday, Binance Exchange announced the start of cooperation with the Banxa service, which will allow its users to buy cryptocurrencies for Australian dollars, euros and British pounds.

Payments in pounds are made through the Faster Payments (FPS) system, which provides an almost instant transfer of funds. FPS is a British banking initiative that allows you to reduce the transfer of funds between different banks from three business days to several seconds. Exchanges such as Coinbase and Coinfloor already work with the system.

Banxa allows crypto exchanges, wallets and other crypto platforms to offer instant fiat to crypto conversions. With only one integration, our partners benefit from both local and global payment options while Banxa takes care of all regulation, compliance and chargebacks. We are very delighted to welcome Binance into our growing ecosystem of partners and look forward to working closely with the team at Binance.

 

Holger Arians

Banxa CEO

Binance currently supports more than 20 fiat currencies through eight partners: Simplex, Koinal, Paxful, AdvCash, Papara, Flutterwave, Latamex and Banxa. Changpeng Zhao, CEO of Binance, previously stated that his company’s goal for 2020 is to support all 180 fiat currencies. According to the latest announcement, in the coming months their number will increase with the participation of Banxa.

In addition, Binance continues to actively expand the list of contracts available on its derivative platform Binance Futures. Only this week, the company announced the launch of contracts for XRP and EOS, and today a contract for Litecoin has been added to them. The LTC / USDT perpetual contract will be launched on January 9 at 8:00 UTC. When opening positions, users will be able to choose the desired shoulder size from 1 to 75x.