Litecoin Foundation and Tokenpay Acquire 10% of German Bank

Hello friends today post about crypto currency.

Litecoin Foundation and Tokenpay Acquire Stake in German Bank.

Tokenpay Swiss AG has officially confirmed that it has acquired a 9.9 percent stake in WEG Bank AG in partnership with the Litecoin Foundation. The terms of the agreement will also include options to purchase approximately 90% overall of the bank, pending the customary regulatory approval.

Litecoin Foundation and Tokenpay Acquire 10% of German Bank.

Tokenpay has revealed that a strategic partnership between it and the Litecoin Foundation has seen the entities acquire an approximately 10% stake in the German financial institution WEG Bank.

Deal May See Acquisition of 90% of WEG.

The terms of the agreement will also include “options to purchase approximately 90% overall of the bank pending the customary regulatory approval.” The release adds that “under German banking law no entity can own more than 9.9% of a bank without regulatory approval.” Tokenpay “plans to exercise its options to acquire the remaining shares of WEG Bank it is entitled to purchase” should approval for such be granted.

You also reffer in:https://news.bitcoin.com/stiglitz-predicts-cryptocurrencies-will-be-regulated-into-oblivion/

And reffer in:https://news.bitcoin.com/litecoin-foundation-tokenpay-acquire-stake-german-bank/

What is your reaction to the acquisition of 9.9% of WEG Bank by the Litecoin Foundation and Tokenpay? Join the discussion in the comments section below!