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When Germany invaded Norway in 1940, Nazi leader Heinrich Himmler endorsed the concept of German soldiers hooking up with Norwegian women, as that would help bring the Nazis closer to the Aryan master race they wished for. Per the BBC , about 50,000 Norwegian women ended up in relationships with…
German doctors treating a member of Russian protest group Pussy Riot said Tuesday that claims he was poisoned are “highly plausible,” but stressed they can’t say how this might have occurred or who was responsible, the AP reports. Pyotr Verzilov has been receiving intensive care since arriving in Berlin from…
A politician was forced to leave a state parliament during a vote because she brought her baby, highlighting the difficulties faced by lawmakers with children.
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Stockholm IT Ventures AB (SITV), a Swedish technology company specialized in cryptocurrency production, announced that its subsidiary, Blocktrade Technology Ltd. (BTT), has signed a software license agreement with Valens Bank, an offshore private bank based in Germany that eases deposit of cryptocurrencies such as BTC, BCH, ETH, or LTC. The agreement reportedly stipulates that Valens bank will be using the BTT Crypto Trading Toolbox exclusively for Crypto Fund Trading.
SITV to Expand Digital Financial Services
It is reportedly the second time that Valens Bank, which provides banking services and multi-currency current and share dealing accounts, pre-paid credit cards, stock broking facilities, cryptocurrency wallet and other financial services worldwide, has made an agreement with Stockholm IT Ventures for the purpose of expanding SITV into digital financial services.
“It’s an exciting time to partner with Stockholm IT Ventures and Blocktrade Technology‘s innovative approach to the crypto space,” Torben Pedersen, the Director of Valens Bank said in a press release statement. “We are confident that this software will offer great value to clients and give pro-traders the market edge all are looking for. We have made a thorough due diligence of the BTT software in live trading situations and are amazed by its performance,” he was quoted saying.
BTT to Approach Institutional Investors and Banks
An official launch of the product is expected for September for the clients of Valens Bank, in the meantime, the partners will reportedly work together diligently the next few weeks to integrate the back-end mechanics. “We are proud to deliver our first license deal with Valens Bank. The agreement is perfectly in line with Blocktrade Technology’s strategic goals and approach for Institutional investors and banks who aim to offer great returns on investments,” Fredrik Waijnstad, the Managing Director Blocktrade Technology said. Mr. Waijnstad continued, for his company “this agreement is yet another proof of concept and what we believe to be one of many high value deals to come this year.” Blocktrade Technology will receive a yearly license fee of 1.5 % on deployed capital into the trading program set forth by Valens Bank.
What do you think of this Swedish Tech company expanding digital financial services together with the German offshore private bank? Let us know in the comments section below.
Images courtesy of Shutterstock.
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The post Swedish Tech Company to Trade Crypto Fund in Exclusive Partnership With German Bank appeared first on Bitcoin News.
A Turkish court has ruled that German journalist Mesale Tolu can leave the country, eight months after being released from prison during a trial on terror-related charges.
Germany fended off Chinese bids for two strategically important industrial assets this week, reflecting a growing effort in the U.S. and Europe to throw up obstacles to Chinese acquisitions of cutting-edge technology.
WSJ.com: What’s News Europe
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.
According to a press release published by Tokenpay, the deal will see WEG Bank “Provide its world-class technology and marketing expertise to Tokenpay and its several blockchain initiatives,” specifically citing Tpay Cryptocurrency, Efin Decentralized Exchange, Tokensuisse Asset Management, WEG Bank Fintech Platform, and Multisignature Transaction Engine.
The managing director of the Litecoin Foundation, Charlie Lee, praised the partnership, stating: “This partnership is a huge win-win for both Litecoin and Tokenpay. I’m looking forward to integrating Litecoin with the WEG Bank AG and all the various services it has to offer, to make it simple for anyone to buy and use Litecoin. I’m also excited about Litecoin’s support in Tokenpay’s Efin decentralized exchange.”
Mr. Jorg E. Wilhelm, the head of the supervisory board of Tokenpay Swiss AG., stated: “We are elated to be in the process of acquiring a large stake in a successful business bank based in Germany such as WEG. Our ecosystem consisting of the Tpay blockchain, WEG Bank, Tokensuisse and Litecoin Foundation provides us with a tremendous opportunity regarding merchant solutions, along with a strong and diverse customer base for our crypto debit card business. The tangible reality of bridging the gap between the old and new world is electrifying.”
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.
Matthias von Hauff, founder, and CEO of WEG Bank AG stated: “The partnership with innovative institutions such as Tokenpay and Litecoin might at first come unexpectedly for a very conservative institution like us. But we have thoroughly and diligently examined the prospects of a common future, and we became convinced that the future of banking will make adoption of such modern payment methods inevitable. We are therefore proud to have teamed up with the best in the field.”
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!
Images courtesy of Shutterstock, Tokenpay, www.weg-bank.de
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The Berlin-based Banking-as-a-Platform (BaaP) institution Solarisbank has recently announced the launch of their new banking service plan that’s focused on clients from the blockchain and digital currency industry. The newly featured resource called the ‘Blockchain Factory,’ will offer financial management services to companies whose business operations deal directly and indirectly with cryptocurrency solutions and blockchain technology.
This German Bank Plans to Provide Special Bank Accounts for Cryptocurrency and Blockchain Companies
Over the past few years as cryptocurrencies have gained in popularity a few companies like exchanges and brokerage services that deal with digital currencies have had issues with their banking providers. Banks and other financial management services have ceased their partnerships with cryptocurrency firms and have closed business accounts making it very difficult for blockchain companies to establish reliable banking partners. Now the German financial tech company, Solarisbank, plans to offer a service called the ‘Blockchain Factory.’ Companies who deal with cryptocurrencies will now have a solid banking colleague who understands the technology.
“The Blockchain Factory will be used by Solarisbank to offer banking services to companies whose business is directly or indirectly based on cryptocurrencies and blockchain technology — One example of these services is the ‘Blockchain Company Account’ for the banking business of blockchain companies,” Solarisbank explains.
Furthermore, services for global cryptocurrency marketplaces will be made available to make it easier to buy and sell fiat currencies; such as the Solarisbank ‘Automated Trust Account’, an automated escrow account for cryptocurrency marketplaces.
High Demand from the Blockchain World for a Licensed Banking Partner
Solarisbank has done well since the bank’s inception in March of 2016, and entered a strategic partnership with Mastercard the following October with plans to build new banking modules. Last March, Solarisbank raised $ 70Mn USD in a Series B funding round from firms such as ABN Amro, SBI Group, Visa, BBVA, and Lakestar.
“There is high demand from the blockchain world for a licensed partner that forms the technological and regulatory bridge to traditional banking — as a technology company with a banking license, we are the natural partner,” Roland Folz, the CEO of Solarisbank details.
A Hybrid Future
The financial tech company has started its first partnership with another firm called VPE Bank and the two have plans to provide cryptocurrencies to institutional traders. Moreover, the firm will establish partnerships with cryptocurrency companies that deal with banking and debit cards within their business model.
“The fiat world is not about to dissolve. We are moving towards a hybrid future, in which the blockchain world still has to prove itself,” the CTO of Solarisbank, Peter Grosskopf explains.
However, we see the disruptive power of these business models and we want to help shape the future of this industry.
What do you think about Solarisbank’s new Blockchain Factory banking services? Do you think companies who deal with cryptocurrencies need better banking providers? Let us know your thoughts on this subject in the comment section below.
Images via Shutterstock, and Solarisbank.
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German auto-industry leaders are making the case to the Trump administration that a trade feud with the U.S. will cause irreparable damage to global business.
The chief executive officers of Volkswagen AG, Daimler AG and BMW AG met Wednesday with the U.S ambassador to Germany to discuss looming…
German Chancellor Angela Merkel’s ruling conservatives are holding last-ditch talks to defuse an escalating dispute over immigration and avert a breakup of her government as the Interior minister says he will tighten border policing on Monday.
WSJ.com: What’s News Europe