The Litecoin Foundation acquires 9.9% of the German bank's WEG Bank AG shares

The non-profit organization Litecoin Foundation, which deals with advertising and support for the third most popular cryptocurrency, announced the acquisition of 9.9% of the German bank's WEG Bank AG shares.

Litecoin foundation and WEG bank

The share purchase transaction was the result of an agreement with the company TokenPay, which deals with asset conversion.

TokenPay has recently transferred the ownership of the 9.9 percent of equity in the WEG Bank AG to Litecoin Foundation in exchange for the latter's technical support in advancing the plans of the bank to provide the customers with the cryptocurrency payment solutions and collaborating with TokenPay on its various blockchain projects.

“I am waiting impatiently for the results of the Litecoin integration in the WEG Bank AG services. It will make it easier for all the users to buy and use Litecoin,”- the Chief Executive of the Litecoin Foundation Charlie Lee expressed his opinion on it.

“Partnerships with the innovative organizations such as TokenPay and Litecoin may seem unexpected to a company like ours. However, we have carefully examined all the opportunities that we have in the future and made sure that the introduction of innovative payment methods is inevitable. We are proud to have teamed up with the best partners in this industry,” added Matthias von Hauff , the founder and CEO of WEG Bank AG.

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