Lisk (LSK) has reportedly partnered with a German bank called WEG Bank in an effort to support cryptocurrency payments by connecting traditional finance with blockchain ventures.
The partnership between Lisk and WEG Bank made headlines during a live stream with Charlie Lee, the founder of Litecoin (LTC). The announcement also means that Lisk has now pursued the same path as the Litecoin Foundation and TokenPay who also happen to be WEG Bank shareholders. The German bank is determined to become more involved with fintech projects.
WEG Bank has also considered the possibility that it might be owned by two crypto-related foundations in the future. This is because cryptocurrency projects still require financial services that comply with regulatory requirements and reliable bank accounts.
Meanwhile, the partnership is reportedly also aimed at linking the Lisk platform with the German bank to facilitate communication with multiple blockchains. Unfortunately, the live stream did not go into the details. The Lisk network is quite fast and it leverages 101 elected delegates to create blocks. Unfortunately, it is still having a hard time finding customers who will utilize its distributed apps.
The announcement about the partnership between Lisk and WEG Bank seems to have generated a slight uptick in LSK’s market value. Its price rallied by more than 18% following the announcement. Meanwhile, the Litecoin (LTC) has continued to enjoy relative stability and its price at the time of this press was $60.19.
LSK as a platform with a different approach
Cryptocurrency and blockchain analysts have lately been optimistic about Lisk. This is because its approach is about facilitating new creations rather than the pursuit of popularity within the payments sector. Its concept has been likened to that of popular cryptocurrencies such as Ethereum (ETH) and Cardano (ADA).
The LSK coin has also shown a lot of potential upsides and only time will tell whether it will join the big leagues and even foster important innovations. Lisks’ future plan also indicates a huge potential for growth and greatness in the future, considering that it has already achieved significant progress, as well as breakthroughs. The recently revealed partnership is thus expected to usher in more possibilities.