Litecoin Foundation has joined hands with the US based martial arts company – Ultimate Fighting Championship (UFC) to sponsor the forthcoming event that promotes the use of Cryptocurrency. The move also improves the chances of widespread adoption of cryptocurrency as a payment mechanism.

Litecoin (LTC) Announces Sponsorship of UFC 232: JONES vs GUSTAFFSON 2

Litecoin Foundation has announced the sponsorship of the match between Alexander Gustafsson and Jon Jones ‘UFC 232: JONES vs GUSTAFFSON 2’. The former heavyweight lightweight champion ‘Jones’ will battle with the current champion in California Forum – Gustafsson at this event scheduled on December 29, 2018. The event will boast the logo of Litecoin on an Octagon Canvas. It will be watched by millions of sports fans and a great achievement for the company.

According to the claims of Litecoin Foundation, it is the first in the industry to come forward to sponsor and promote a UFC event. It is another milestone for the crypto space and blockchain technology.

Blockchain Related Projects Promote The Growth of Economy Worldwide Through Partnerships and Sponsorships

It is significant to note that blockchain based projects are supporting the growth of the global economy through partnerships and sponsorships despite the recent fall in prices of the cryptocurrencies including Bitcoin (BTC).

Litecoin Foundation Joins Forces With TokenPay Swiss AG to Acquire 9.9% Stake in WEGBank AG

Litecoin Foundation has joined hands with TokenPay Swiss AG to purchase a stake of 9.9% in WEGBank AG, a bank based in Germany. The deal also allows both the companies to acquire 90% of the bank. The acquisition is subject to regulatory approval.

Following the takeover, WEGBank AG will support the TokenPay using its cutting-edge technology and expertize in marketing. It also supports various blockchain initiatives of TokenPay such as Tokensuisse Asset Management, Multisignature Transaction Engine, WEG Bank Fintech Platform, Efin Decentralized Exchange, and Tpay Cryptocurrency.

Charlie Lee, Managing Director of Litecoin Foundation termed the alliance with TokenPay Swiss AG as a significant step for TokeyPay and Litecoin. He further said the company is intending to integrate the Litecoin with all of the offerings of WEGBank. The initiative allows the customers to purchase and use the Litecoin.