On July 16, TokenPay CEO Derek Capo hosted a YouTube live broadcast on TokenPay's official channel to talk about TokenPay as platform, his former business called eFin, his days as an entrepreneur, failures and more. This is in response to Bitcoin influencer Tone Vays' recent criticism on Twitter of the partnership between TokenPay and Litecoin, their respective leaders, and their acquisition of stakes in WEG Bank. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Derek Capo, along with cryptocurrency enthusiast Sean Davis, addressed the discussion when talking about the recently released TokenPay website. This is the rebranding of TokenPay, which also showcases the products the company is working on. One of the main features is commercial services, which are scheduled to be introduced in August. Commercial services are significant for the adoption of cryptocurrencies in businesses. The TokenPay CEO further added, “Merchant services are needed for businesses to start accepting cryptocurrencies and then once we start getting the ball rolling, hopefully hundreds of thousands of businesses around the world will be able to start accepting cryptocurrencies." TokenPay is not as popular as Litecoin in the cryptocurrency space, the platform is following the push-pull business strategy to spread its adoption. Litecoin is pushing the adoption of its coin through sales while TokenPay still has a long way to go in terms of recognition of its ecosystem. This is why TokenPay is creating more and more partnerships, Derek explained. He then clarified the purpose of Token Suisse, which Derek said will be a regulated and registered broker-dealer. That's why TokenPay bought a bank's 10% stake. Post this purchase, TokenPay can issue certificates for coins. For example, not all cryptocurrency holders, especially institutions that actually want to store their digital assets in a wallet. Exchanges are centralized, vulnerable to hackers, and don't always have insurance. Many high net worth individuals invest in cryptocurrencies to diversify their portfolio. Token Suisse's role is to issue certificates to that customer base. However, the certificate requires at least $1 million worth of funds to be executed. For acquiring such a certificate, Token Suisse may charge an annual fee or an entry and exit fee. Currently, TPAY is non-tradable but can only be invested via certification. The conversation moved to eFin, one of Derek's startups and initially, it was an equity credit store that operated on different algorithms. On this, Derek admitted that the business failed within three to four months, due to strong competition and other factors. Furthermore, this company's domain name, eFin, was versatile and decided to be integrated into a decentralized exchange. Derek explained the reason for his interest in building a decentralized exchange. After stating that many cryptocurrency exchanges are repeatedly attacked by hackers, he said: "We realized that there was obviously a demand to have a decentralized exchange, but there wasn't a big one out there that was actually doing a great job, so what what we decided to do was build an exchange and build a specific coin that would work within that exchange, apart from the other coins that you can have in exchange. Keep in mind: this is just a.