TokenPay, previously holding 9.9% of equity in WEG Bank AG has passed those to Litecoin Foundation in exchange for the latter's assistance in bringing a crypto payment solution to the bank's customers. Litecoin Foundation also agreed to help TokenPay in their forthcoming blockchain projects onwards.
If approved by regulators, TokenPay is going to buy out the remaining WEG Bank shares for the funds from its December 2017 token sale.
Matthias von Hauff, the founder and CEO of the bank said that this deal only came after a thorough examination of the prospects of such a cooperation for his "very conservative" institution.
Von Hauff calls himself convinced that crypto payment methods are going to become "inevitable" in the future.
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