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TokenPay Buys Stake In German Bank, Organizes Amsterdam Meetup With Verge (XVG)

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Verge
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The writing seems to be on the wall in terms of figuring out if the much-anticipated partnership between top privacy coin, Verge (XVG) and the payment platform known as TokenPay, will happen. With regards to the latter, details have emerged of TokenPay having acquired a stake at German bank WEG Bank AG. In the announcement on the TokenPay medium page, the following was said:

Today we are announcing that we have officially closed a deal with WEG Bank AG, located in Germany. WEG Bank has also made an announcement of the partnership on its website. Share certificates representing 9.9% of the equity interest in WEG Bank AG have been transferred to TokenPay Swiss AG, along with options to acquire an additional 80.1% of the bank upon customary regulatory approval. The proceeds of this transaction were derived from our December 2017 token sale. As outlined in our Whitepaper roadmap we have completed this partnership during Q2 2018, in line with our November 2017 projections.

This announcement adds to the already budding profile of TokenPay which is a project for a decentralized and self-verifying payment platform. With this announcement, TokenPay and WEG Bank AG will have an opportunity to offer FineTech solutions to its customers. TokenPay also has opened the door for talks with an undisclosed bank in Lichtenstein that also sees the future in terms of offering FineTech solutions to its customers and embracing blockchain technology.

The above news adds to the speculation that TokenPay and Verge are on the cusp of shaking hands and sealing a deal in terms of a solid partnership. With a Meetup co-hosted by the two organization scheduled on June 9th and in Amsterdam, the possibility of a partnership can be seen through a recent tweet by @vergecurrency of a T-Shirt with both their logos fused into one.

Verge/TokenPay T-Shirt

If the Verge/TokenPay partnership does materialize, it opens the doors for numerous opportunities for the two to collaborate beyond the highly anticipated debit card option. The debit card will allow XVG owners to purchase goods and services like they would with a regular bank backed debit card.

Other Banking FineTech solutions that might materialize through the partnership, are a Banking App on the blockchain that performs the same functions as the above-stated debit card: scan a QR code and input a password to complete the sale. Another FineTech solution would be a one-stop checkout for all your XVG supported subscriptions e.g Pornhub and TrafficJunky.

Looking at the crypto-market, XVG is still trading below 80 cents and at $0.0747 at the moment of writing this. With the halving of the block reward for miners, less XVG will be minted into the market hence reducing the incoming supply. As a result, XVG has a chance at increasing in value as seen in Litecoin which also halved back in 2014.

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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.

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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