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

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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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Blogs

3 Things to Avoid if You Want Your ICO to Succeed

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Initial Coin Offerings, or ICO, have become quite popular in 2017, which is something that also continued throughout 2018. In fact, there were hundreds, if not thousands of them so far. However, no matter how many of them were organized, most never managed to make it into the market and achieve their goals.

Analysts claim that there are a lot more failed ICOs than there are successful ones, which has caused a lot of people to simply give up on the idea. However, many are still curious to know what went wrong, and while failed ICOs can be studied for years without discovering absolutely every flaw, some of the bigger ones can be spotted right away.

This is why we will now list top three reasons why so many ICOs failed, and everyone who is thinking about launching one should pay close attention.

1. The lack of demand for the product

According to estimates, around 60% of ICOs often fail at the first stage simply for the lack of interest in what they offer. When someone comes up with an idea and launches an ICO in order to raise money, they are presuming that people will be interested in investing in this idea. In addition, prior to making an announcement that an ICO is coming, it is wise to ensure that the announcement will be heard in the first place.

Additionally, ICOs need to be approved by appropriate…

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Bitcoin

Reasons Behind The New Bitcoin Crash

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Cryptocurrency investors and supporters experienced quite a shock last week with the latest Bitcoin crash. Almost every single one of top 100 cryptocurrencies trading in the red. Not only that, but most of them experienced massive losses, often larger than 12%, or even 15%.

The event was unexpected and all cryptos, with the exception of a handful of stablecoins, lost a large part of their value. However, as always, Bitcoin is the one receiving the most attention, especially since this is the first time that BTC has dropped below $6,000 in a long while. Right now, Bitcoin is still losing value, with its current price being at $5,503.11 per coin, and a drop of 12.76% in the last 24 hours.

After the initial shock, a lot of investors started wondering and researching the new crash. The main question still remains: Why did this happen?

While this is more than understandable, especially considering how much money, time, and patience people have invested in crypto, the reasons behind the new crash remain obscure to many. Because of that, we are now going to explain two events that are most likely to be causing this situation.

1. The selloff

This is believed to be the main reason for the new crash of Bitcoin. The selloff came as a consequence of the last year’s bull run, which has launched BTC and other coins to entirely new heights. Because of that, numerous…

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Altcoins

Here’s Why This Coin Still Has Wings (WINGS)

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WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.

Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.

What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.

The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…

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