Lisk (LSK) Moves Up; Joining TokenPay & Litecoin Foundation Owned WEG Bank as Partner
The Lisk project has joined Litecoin (LTC) and TokenPay in their effort to use the German WEG bank as a partner to allow everyday crypto payments.
Lisk (LSK) is reportedly joining TokenPay and the Litecoin Foundation, both shareholders in WEG Bank, in a move connecting blockchain ventures with the traditional finance world. The news broke during a livestream video with the founder of Litecoin (LTC), Charlie Lee.
WEG Bank, jointly owned by TokenPay and the Litecoin Foundation, has set out to increase its involvement with fintech projects. In the future, the bank is open to the option of being wholly-owned by its current minority shareholders. Reliable bank accounts and compliant financial services are still important for cryptocurrency projects.
The relationship between WEG Bank and Lisk may run deeper, as the financial institution will reportedly try to integrate with the Lisk ecosystem to communicate with other blockchains. The livestream, however, did not give details on the exact nature of the tests.
The Lisk network is relatively fast, relying on 101 elected delegates to produce blocks. Currently, the network is still struggling to find users for its distributed apps.
The news of a banking partnership, however, managed to spark a short-term rally in LSK market prices. The asset regained more than 18% in the past 24 hours, reaching a price of $1.55. The asset peaked briefly above $1.67 before correcting a little. LSK mainly managed to spike in BTC prices, afforded by the high liquidity of the LSK/BTC pair on Binance.
LTC market prices remain stable for now around $56.44, as the coin consolidates the gains of the past month. LTC market prices rallied, based on increased marketing and social media mentions, along with more active trading and inflows from BTC and Tether (USDT).
TokenPay (TPAY) also saw gains in the past months, as cryptocurrency payment systems are once again attempting to gain traction. TPAY increased from lows around $0.74 in February to current levels above $1.01, up around 6% in the past week in a steady trend of increase in terms of BTC prices.
TokenPay aims to revolutionize fintech by offering a more advanced payment system, with built-in anonymity and secure wallets.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.