Switzerland based crypto startup TokenPay announced they will be investing in a lingerie business but not in anyone’s business but the popular, beautiful Heidi Klum’s new lingerie brand. The startup filed an application with the U.S Securities and Exchange Commission so let’s find out more about it in our blockchain news below.
TokenPay paid $1.3 million in order to acquire a 6 percent stake in the Naked Brand Group (NAKD) but it will probably be 2020 for customers to get their hands on the lingerie by Klum with the TPay tokens. NAKD is an Australian based lingerie company with Heidi Klum’s signature fashion designs. An official at TokenPay, Derek Capo stated:
“NAKD has been interested in working with a blockchain company for logistics. We’re excited on NAKD accepting TokenPay’s merchant services platform so that they can accept crypto across all of their brands. We’re working hard to get every single angle possible because there are many opportunities in this industry. Once you start using TPAY, we will provide you an opportunity to work with the German bank, open up a bank account there and convert your fiat if you want to.”
Currently, the swiss-based startup doesn’t really have formal document obliging them to integrate the TokenPay or TPay merchant services but by investing in companies such as the WEG Bank AG or the Naked Brand Group, the startup will eventually facilitate both TPay uses cases and improve the token’s infrastructure.
This strategic move comes due to the diversification strategy of TokenPay and comes as the next move after December 2017 token sale that finished with a total of 2,000 bitcoin or about $20 million USD.
TokenPay has already invested $4 million of its earnings on buying equity in the WEG Bank AG in Germany but also obtaining a 10 percent stake in TokenSussie which is a privacy-oriented coin fund. Up to this day, the startup has spent more than a half of the value of the first token sale. It only has about 10 percent of its bitcoins placed in the long-term treasury and has also spend an additional $1.5 million USD on operating costs.
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