Late last night, we saw news of TokenPay making an acquisition of German bank, WEG Bank AG.
According to TokenPay, the acquisition accounts for shares of around 10%, with an additional 80% of the bank potentially up for grabs, pending customary regulatory approval. What seems to have started off as a small acquisition, could eventually lead to a complete overhaul for WEG Bank AG.
#TokenPay Announces Acquisition of 9.9% of WEG Bank AG in Germany with Option to Acquire an Additional 80.1% upon Approval.?Full Details Here: https://t.co/FV3u0tjEoi $TPAY #TPAY pic.twitter.com/bGmuEvcXmu
— TokenPay (@tokenpay) May 9, 2018
Rumours are now surfacing that point towards a future enrolment of Verge and Litecoin as a part of this deal, this is certainly fitting when you note that TokenPay do seem to be in line to increase their stake, should custom regulations approve this.
Why Verge and Litecoin?
Well firstly, we know TokenPay do have a relationship with Verge, given that TokenPay did act as a major investor during Verge’s PornHub crowdfunding campaign. Moreover, Derek Capo of TokenPay once tweeted the following:
“There is a lot of speculation that @tokenpay is the mystery partner for @vergecurrency the answer is no. However, we do have a lot of plans to integrate $XVG into a lot of services we plan to offer soon.”
There is a lot of speculation that @tokenpay is the mystery partner for @vergecurrency the answer is no. However, we do have a lot of plans to integrate $XVG into a lot of services we plan to offer soon. The crypto community needs more partnerships to increase adoption of crypto.
— Derek Capo (@derekcapo) April 12, 2018
Moreover, we know that Capo and Charlie Lee, founder of Litecoin also have a blooming relationship, according to Ethereum World News, Lee and Capo have already exchanged a dialogue about this:
“TokenPay has partnered with Verge and that they, TokenPay, are buying a bank in Germany and will be using Verge as their banking solution. If TokenPay did not donate the deal does not happen. TokenPay has a partnership with Verge for our banking solution (we are buying bank in Germany). More partnerships between crypto is important. TokenPay also benefits in helping large community, etc.”
Okay, at the moment this sounds pretty vague, however with connections already in place, we should expect this sort of speculation to arise. A partnership between TokenPay, Verge and Litecoin, all owning part of a real life German bank could mean really big things for the respective currencies. Where adoption is concerned, this could very well provide the format for real mainstream adoption, and could facilitate things like a Litecoin payment card, something which is very much now in the crosshairs of the Litecoin Foundation.
What should we make of this?
We need to see some hard evidence before we can assume the involvement of Verge and Litecoin. Obviously the TokenPay acquisition has now been confirmed, going forward we could see a further 80% stake carried by TokenPay. How this total 90% will be used now seems very much up for debate. WEG Bank AG may about to be a part of something very interesting indeed.
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