Payment system TokenPay providing services for accepting and converting payments in bitcoin, announced the conclusion of partnerships with the Litecoin Foundation, whose goal is the acquisition of a German Bank WEG Bank AG.

At the moment TokenPay have already purchased a 9.9% stake in the Bank, planning to soon become the majority owner once the German financial regulator will approve the deal. Litecoin Foundation, for its part, sees great potential in this project and, in exchange for a stake, will provide its innovative blockchain solutions and technical expertise.

In the official press release published on the website TokenPay, it is reported that the new partnership will strengthen both companies in the consumer market:

“Through this partnership TokenPay and Litecoin along will be among the leading developers and suppliers of advanced customer-oriented FINTECH solutions for the market.”

Both companies expect therefore to reach a higher level of activity, adding new business solutions and expanding client base to run the business with a debit card. Charlie Lee (Charlie Lee), head of the Litecoin Foundation, said the partnership is mutually beneficial. He looks forward to the opportunity to integrate litecoin into the system WEG Bank AG and offer them banking services.

We will remind, in April, the Litecoin Foundation entered into a partnership with TenX, which was released debit card payment TenX for LTC.