A discussion that took place over Twitter between Litecoin founder Charlie Lee and TokenPay CEO Derek Capo has revealed that together, the two firms are exploring a banking solution in Germany that would facilitate government education and work with regulators, crypto debit cards, and more.
In an exclusive message to Finance Magnates, Lee confirmed that he is indeed considering this solution, saying that “we’re exploring it.”
Earlier this month, Litecoin announced a partnership with TenX to release an LTC debit card.
TokenPay is Developing Plans to Purchase a German Bank
The conversation, which began on the subject of Verge’s partnership with PornHub, took an interesting turn when TokenPay CEO Derek Capo revealed that TokenPay is developing plans to purchase a bank in Germany and to use Verge as their banking solution.
1. If @tokenpay did not donate the deal does not happen. 2. @tokenpay has a partnership with @vergecurrency for our banking solution (we are buying bank in Germany). 3. More partnerships between crypto is important. TokenPay also benefits in helping large community, etc.
— Derek Capo (@derekcapo) April 17, 2018
Liquidity Constraints in 2021 – What is the Best Path Forward?Go to article >>
“Great, thanks for helping make this happen,” Lee wrote in reply.
The two continued discussing the topic. “No problem,” Capo tweeted. “So when do you want to talk about a REAL debit card solution? We are buying 9.9% of a bank in Munich with [the] option to buy 90%. We have a whole ecosystem and plan in place. Let me know how we can work together. The battle between old and new world is just getting started.”
“They [sic] key to making this all work is ecosystems, partnerships and constant communication with regulators,” Capo continued. “Buying a bank in Germany gets us a seat at regulator table, key to educating governments. As for $LTC we can add to our bank, debit card, gift cards etc.”
Lee then offered his own assistance and the assistance of the Litecoin Foundation with an invitation to Derek Capo to “DM” (direct message) him. Before Lee’s message to Finance Magnates, it was confirmed elsewhere online that Litecoin and TokenPay had entered into some sort of non-disclosure agreement.
— Thomas James [LTC] (@ltcninja) April 20, 2018
While the fruits of this new relationship have yet to be borne, the cryptosphere can look forward to what will most likely be some positive progress for the whole industry.