Etihad’s Exclusive Partner Crypto Emporium To Support TokenPay (TPAY) Amid Controversy
TokenPay platform, Litecoin’s (LTC)’s newly acquired partner announced on September 19 that Crypto Emporium has made a decision to bring onboard TPAY on its platform. TokenPay has hopes that the integration is bound to increase the adoption and use of their token as it is being introduced to a new market with over a million potential users.
On its official Twitter handle, TokenPay said that Crypto Emporium, which is the only digital currency partner of Etihad Airways has announced that it would be integrating $TPAY on its platform.
This, therefore, means that the token will be available to more than 1.8 million people who are currently using the airline every month.
By joining hands with Crypto Emporium, TokenPay believes that it will get opportunities to get in different areas of service. Crypto Emporium is a crypto-only luxury platform. Just recently, during the Litecoin Summit, Derek Capo, the chief Executive Officer (CEO) of TokenPay talked about other collaborations that his company has already gotten into like Litecoin Foundation.
Charlie Lee, the Managing Director of the Foundation went on a quest with Litecoin Foundation to get a stake in Weg Bank AG, a German bank using the partnership with TokenPay earlier this year. Lee said that the post partnering deal with the TokenPay enable Litecoin Foundation to get a 9.9% stake in the bank while offering back marketing support as well as technical guidance.
Controversy in the partnership
Just recently, the announcement that Crypto Emporium had been made the exclusive Etihad partner was made. Despite this announcement, there was uproar and the official tweets failed to confirm the initiation.
One of the tweets said that “Sorry to bring you this news, but it is not correct. We had the same confusion when announced for the verge”
Crypto Emporium in response said that they were not able to discuss in detail what the deal was. The company noted that it had been misled on the details of that partnership after they had received information that they would be Etihad’s exclusive digital currency partner. They say that that was not the case and they terminated the contract.
Concerning this issue, Crypto Emporium later announced on Twitter that they had identified some loopholes with the partnership. They, however, declined to reveal the details of those loopholes.
Crypto Emporium disappointment
In their statement they said that after they had identified those loopholes, they got extremely disappointed. Even then, they received a lot of requests from individuals who wanted to book flights and hotels using digital currencies. Their biggest worry is as to whether people would use a flight/hotel crypto-only website if they were to create one.
An anonymous Twitter user Stuart M Foulkes who is also a blockchain space fan inquired of the details of the limitations in the partnership.
In their response, Crypto Emporium failed to reveal any details regarding the limitation of the partnership. They said that they could not divulge any information other than the fact that they were duped to be the sole digital currency partner of Etihad Airways.