The founder of Litecoin, Charlie lee posted on Reddit, July 17 to clarify his position after the acquisition of a stake in the German bank WEG and AG in the future of the Litecoin foundation. In his post, Lee mentioned the possibility of a bank offering crypto services.
The Litecoin foundation acquired 9.9 percent share in WEG bank through a new partnership with the crypto-fiat payments firm token pay. In return for providing token pay’s crypto and business operation with its blockchain, logistics and marketing expertise, Litecoin acquired 9.9 percent stake in WEG.
Lee demanded “clarify some things about recent events” while providing some details about the bank acquisition and said that the foundation “did not pay any money for this stake bank.” “Lee said that he hopes to get the board status in the bank. regarding the possible expansion of crypto services, Litecoin founder commented in his post on Monday.
Lee said that with a seat on the bank’s board, he would be in a position to have a positive impact on the adoption of the cryptocurrencies in the operation of the bank. He said that, even though they are unable to work with the bank in pushing the crypto services, the Light Cone Foundation will financially benefit from their stake.
Although Lee criticized the ICO in his post, because some of them are total scams and most of them are ready to fail, “he praised Token pay for the sale of TKA tokens, saying that they” “And that Token pay’s leadership is more interested in adopting a more crypto, Li said. For the sake of transparency, neither he nor the Light Cone Foundation There is a plan to be the owner of RPA Token. Li is the managing director of Light Cone Foundation.
At the press time, Litecoin(LTC) is riding a wave of positive momentum in the crypto markets, which is trading at 18.03 percent in the last seven days at $90.37.