LitePay Failed Launch Day

According to the email received by the followers, situationis caused by "hostile actions" of plastic card issuers
27 February 2018   737

The long-awaited launch of LitePay payment service did not take place on the appointed day because of the "hostile actions" of plastic card issuers. This is reported by Market Mogul.

Due to hostile actions by card issuers towards crypto companies, we have decided that offering LitePay card registrations at this time is imprudent.
 

LitePay Email Sent to Followers

The fact that the launch of LitePay should be held on February 26, it became known two weeks ago.

It is expected that the service will become an analogue of Bitpay for Litecoin and allow retail outlets to accept payment in the cryptocurrency, and for users will issue a card with which they can pay for purchases in the real world and even withdraw cash.

Litecoin negatively reacted to this news and fell by 2% in the last 24 hours, while the majority of large crypto-currencies show moderate growth.

LTC Price
LTC Price Chart

At the moment of press, these are main market parameters of LTC:

  • Market Cap $12 094 416 450
  • Average Price $218,31
  • 24h Volume $1 064 740 000

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   127

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.