Swiss decentralized payment startup TokenPay has acquired a large number of shares in an Australian lingerie giant, a document originally issued on March 19 reveals.
According to the filing, TokenPay purchased 1,840,216 shares of Naked Brand Group's common stock, a 6.2 percent stake.
The company has various brands on the market, perhaps the best-known of which is supermodel Heidi Klum's Intimates line.
Explaining the impetus behind its choice of spending and subsequent area for development, TokenPay revealed NAKD had in fact suggested it was curious about blockchain technology.
"It also operates iconic fashion brands w [with] $100m in sales, mostly to women. This is an undertargeted market in our industry. Potential for excellence by embracing crypto is real."
Once the NAKD deal completes, TokenPay hinted there would be the option to purchase the company's products using crypto.
As Cointelegraph reported, TokenPay has branched out into unanticipated industries before.
In June last year, the startup partnered with the nonprofit body behind Litecoin to acquire a roughly 10 percent stake in a German bank.
Prior to that, a $2.5 million token investment saw TokenPay support efforts by privacy-focused cryptocurrency Verge to make major adult entertainment website Pornhub support its XVG token.
TokenPay Seals Equity Deal in Australian Lingerie Giant Naked Brand Group
Published on Mar 28, 2019
by Cointele | Published on Coinage
Coinage
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.