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Move Over Ripple and XRP, Litecoin (LTC) Is Getting Into Banking - Global Coin Report
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Move Over Ripple and XRP, Litecoin (LTC) Is Getting Into Banking

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Litecoin
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When you mention banking and blockchain technology, the first crypto any crypto-enthusiast thinks is the digital asset of XRP and the Ripple company. (We have actually come to conclude that XRP and Ripple are entirely two different entities.) Another project and digital asset that might come to mind when you mention banking and blockchain technology is Stellar (XLM). The Stellar foundation is geared towards connecting banks, payment systems, and people.

But there is a new cowboy in town by the name of Litecoin (LTC). The Litecoin foundation, through a strategic partnership with TokenPay, has acquired a 9.9% stake in Germany’s WEG Bank. This means we can now put aside the disappointment of Litepay for LTC has found its way into banking.

Through an official announcement, the Litecoin foundation agreed to provide its world-class technology and marketing expertise to TokenPay and several blockchain initiatives that include:

  • TPAY Cryptocurrency
  • eFin Decentralized Exchange (DEX)
  • TokenSuisse Asset Management
  • WEG Bank FinTech Platform
  • Multisignature Transaction Engine

Initially, TokenPay had acquired the 9.9% stake in the Bank. But now, it has been further transacted to the Litecoin Foundation to further expand the outreach of TokenPay through the above-mentioned initiatives.

Charlie Lee, the founder of Litecoin is quoted as saying:

“This partnership is a huge win-win for both Litecoin and TokenPay. I’m looking forward to integrating Litecoin with the WEG Bank AG and all the various services it has to offer, to make it simple for anyone to buy and use Litecoin. I’m also excited about Litecoin’s support in TokenPay’s eFin decentralized exchange.”

This ‘transfer’ of TokenPay’s 9.9% stake in the bank to the Litecoin Foundation is a progressive move in a sense that WEG Bank is part of the institutional investors the crypto-markets are trying to attract. The Litecoin Foundation has shown business acumen by going after an institutional firm and acquiring a stake rather than the other way round.

Prof. Dr. Jorg E. Wilhelm, Head of Supervisory Board of TokenPay Swiss AG added that:

“We are elated to be in the process of acquiring a large stake in a successful business bank based in Germany such as WEG. Our ecosystem consisting of the TPAY blockchain, WEG Bank, TokenSuisse and Litecoin Foundation provides us with a tremendous opportunity regarding merchant solutions, along with a strong and diverse customer base for our crypto debit card business. The tangible reality of bridging the gap between the old and new world is electrifying.”

It is with these two plans of merchant solutions and debit cards that both TokenPay and Litecoin (LTC) will prosper in the coming months. We also need not forget that Verge (XVG) and TokenPay are bosom buddies. Therefore, this new Litecoin and WEB Bank announcement also benefits the Verge Community!

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Ofer Deshe via Flickr

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Top 3 Crypto Trends That Might Go Big in Q2 2019

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So far 2019 has brought a significant change to the crypto industry. Q1 of this year has seen the rise of the idea of IEOs, the crypto space has finally managed to shake off the bears, and numerous coins throughout the industry have seen their prices grow once again.

The latest rally happened only several weeks ago, and it allowed Bitcoin to surge up by $1,000. Most other coins followed in their own way, but the investors are now wondering what to expect out of Q2? The Q1 started off badly, but it ended up being extremely successful. The chances are that history might repeat itself in the second quarter, as there are some key trends that might point the way for the further development of the crypto market.

1. The rise of IEOs

Back in 2017 and early 2018, ICOs (Initial Coin Offerings) were everything that the crypto space was talking about. Their popularity allowed startups to raise billions upon billions of dollars. Soon enough, however, that ended in a pretty bad way. STOs (Security Token Offerings) emerged as an alternative that does not depend on trust, follows regulations, and it actually holds value. However, asset tokenization might still be in its early stages, and this is something that might come back at some point in the future.

In 2019, however, IEOs (Initial Exchange Offerings) started attracting the…

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The Crypto Space Once Again Divided Over Bitcoin SV

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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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