Verge through its Twitter account has teased about their launch of XVG debit cards. The company stated that it had acquired WEG bank, which is a German bank that provides financial technology related solutions and offers loans at lower interest rates.
Crypto-debit card enables an individual to store the cryptocurrency via the internet. This shall solve the problem of spending the cryptocurrency in outdoor conventional stores which are widespread.
On the 8th of May, Verge and TokenPay were in a meeting with WEG bank. They announced that they would be acquiring at least 9% of WEG bank. It was specified that an additional accrual of 80% is optional and will be dependent upon the verification process.
WEG has stated on their website that the bank has made a very good connection with the modern financial world. They have announced that TokenPay, a verge partnership has invested, and holds 9.9% of the bank.
Verge is hitting the headlines as the company is partnering up with numerous firms to gain a global recognition. The market for verge has seen a decline from the past one week as the price has fallen by -22.62%. At the time of writing, XVG is trading at a price of $ 0.061 with a circulating supply worth $920 million. In the last one hour session, the price has increased by 2.12%. In the last 24-hour period the XVG price has experienced a decline of -18.22%.
Peter, a Twitterati said:
“LOL, I took a look at this so called bank and it doesn’t look like much of a deal. WEG is German-based bank, what you expect from those Nazis other than providing solutions regarding the fintech. Nah is just a joke.”
Garrison, a crypto-analyst said:
“I’ve great expectations from this currency XVG, I am not a community member of this coin FYI. I do not invest in crypto but I can anticipate a global exponential phenomena.”
Veron, a Twitter user said:
“Even with all this news, price keep droping. This owing to the previous hype of partnership. Verge team need to apologise to the community.”
The post A new direction: Verge [XVG] to launch crypto-debit cards appeared first on AMBCrypto.