The blockchain industry is no place for mistakes, however, it is a place where security, transparency and sometimes anonymity are highly regarded. Verge (XVG) has been in the limelight for the good reasons since April. They landed one of the largest partnerships in the crypto space with the adult entertainment site, Pornhub. Verge has also truck other vital partnerships catching the attention of the investors. However, it is not all good for this cryptocurrency; Verge has been hacked for the second time in two months. The first attack, if you are an ardent follower of this crypto, happened in April. Verge (XVG) has also succumbed to yet another attack this month where $1 million has been lost.
TokenPay (TPAY), on the other hand, is also making headlines in the mainstream media after it announced that it was going to be acquiring a bank in Germany. The highly anticipated deal was closed on May 9 and all the transfer of shares completed successfully. The WEG Bank AG has also confirmed the partnership while share certificates detailing the 9.9% stake of Verge in the bank have been issued as well. The deal also encompassed an option for Verge XVG to buy an additional 80.1% of the bank after regulatory approvals. XVG team said that the funds used to fund this partnership were acquired from the token sale they run last year in December.
The acquisition is a major milestone for TokenPay and is still in line with their whitepaper roadmap. Moreover, TokenPay is also courting another similar partnership with a Lichtenstein Bank. The bank approached TokenPay because they intend to position themselves at the forefront of the blockchain FinTech solutions in the economy. The team reckons that their state of the art products and services are on demand and that they plan to position themselves as a go-to platform for FinTech solutions in the industry. In addition to that, TokenPay has also entered into an undisclosed verbal partnership with a FinTech provider. This partnership will accelerate TokenPay successful journey to become a leading FinTech company in the entire Europe region.
TokenPay intends to work on growing TPAY to ensure that it is widely accepted by merchants. The deal with the German bank positions it to be a global payment solution provider while bridging the gap between the traditional banking sector and the cryptocurrency industry. The Multisignature Transaction Engine is the powerhouse behind TokenPay merchant platform. Talks are underway with various cryptocurrency exchange companies for integration, but details of this will be released later.
TokenPay also landed another groundbreaking partnership with TopBtc volume Chinese exchange for integration this month. This new partnership takes TokenPay a step closure to their goal of increasing the influence in the Asian market. The company also entered into another partnership with Japan’s Quoine back in April 2018. The team at TokenPay understands that Asia is one of the top markets for cryptocurrency and blockchain products. They intend to increase their presence in Japan, China, and South Korea.
While TokenPay (TPAY) is making groundbreaking deals and achieving milestone after milestone, Verge XVG is currently grappling with the looming insecurity. Verge (XVG) has however been added on Bitfinex but its price ignored the listing tanking event further. It is trading at $0.036 and is down 9.37% in the last 24 hours. TokenPay (TPAY) has a lot to achieve before it becomes a global force, but it is currently taking steps towards the realization of its global presence goals.