bitcoinBTC/USD
$ 19,534.17
ethereumETH/USD
$ 1,093.65
tetherUSDT/USD
$ 0.998844
cardanoADA/USD
$ 0.449232
xrpXRP/USD
$ 0.31706
usd-coinUSDC/USD
$ 0.998314

The Central Bank of Romania Allows Blockchain Firm Elrond to Buy Twispay

Elrond Acquired License To Issue Stablecoins in European Union

At the time of writing, Elrond’s primary objective is to obtain a license from Twispay for the creation of stablecoins that may be used inside the European Union. Just recently, the National Bank of Romania has approved the purchase of a payment processing platform by the blockchain company Elrond.

Elrond is a blockchain company that specializes in distributed applications. Just recently, Elrond received authorization to purchase the e-money institution, Capital Financial Services. This institution operates under the trade name Twispay.

Twispay is a global payment system that accepts several fiat currencies and a wide range of payment methods for overseas transactions. As a key member of Visa and Mastercard, the company has its benefits. In regard, it now has the authority to acquire merchants and actively engage in the issue of cards.

Likewise, the company also has the authority to perform payment services as well as issue e-money. The National Bank of Romania also approved of this license. In addition, the firm is able to operate throughout the European Economic Area too.

Moreover, buying Twispay gives Elrond a leverage point in both the traditional financial sector and the emerging cryptocurrency market. Additionally, the purchase puts Elrond in a good position to provide faster and more affordable payment options. 

The Benefits of Elrond Buying Twispay

Existing financial systems will benefit from a variety of Web3 technologies. This includes new stablecoins, debit cards with crypto-enabled features, and also benefits of DeFi, NFTs, and more. An Elrond official noted that one of the main goals of the new purchase is the issuance of stablecoins.

As stated, the main purpose is to use Twispay’s e-money license. This license will be used to issue stablecoins that can be used in the EU. The goal is to make use both for personal and business reasons, as well as for official use at a more institutional level.

The CEO of Elrond further emphasized the potential of the given opportunity. He adds that this is a historic decision by the Romanian Central Bank. It opens the door for EU nationals and shortly for everyone worldwide. 

Elrond first declared its intention to buy the e-money business in October 2021. Correspondingly, the news comes a few months after Elrond bought Utrust in January 2022. Utrust is a major crypto payments service provider.

As a result, the company wants to play a big role in making European finances more digital. It also aims to serve as the carbon-negative, fully decentralized, low-cost, and near-instant rails for a wide range of new financial services. 

Also read:

Related News

The withdrawal limit for traders has been temporarily lowered by cryptocurrency-backed loans provider CoinLoan.

The Withdrawal Limit Temporarily Reduced by CoinLoan

The withdrawal limit for traders has been temporarily lowered by cryptocurrency-backed loans provider CoinLoan. The corporation cited the present market crash as the reason for the decision. Due to the change, customers are now limited to a $5,000 maximum withdrawal limit each day. In their announcement, they noted the following: “the interest we pay on the Interest Accounts is yielded by issuing overcollateralized loans to other platform users. Hence in some

Read More »
The price may perhaps clear the $1,200 obstacle above the next significant resistance, which is located close to the $1,180 zone.

New Surge in Sight As Ethereum (ETH) Gathers Momentum

Following a period of stability at $1,000 versus the US Dollar, Ethereum (ETH) enters a new uptrend. Above the $1,150 barrier level, Ethereum (ETH) can move much higher. Near the $1,070 region, the pricing was able to overcome a few significant obstacles. Even the 61.8 percent Fib retracement level of the significant decline from the swing high of $1,235 to the low of $997 was tested by the price. The

Read More »
In order to share their doubts about the industry, the first anti-crypto conference attendees are hoping to get a word with officials from the government.

Crypto Policy Symposium 2022: The First Anti-Crypto Conference

In order to share their doubts about the industry, the first anti-crypto conference attendees are hoping to get a word with officials from the government. Critics of the industry and doubters have joined together to host their own anti-crypto conference where they can express their doubts and connect with legislators in the midst of the most recent crypto bear market. The Crypto Policy Symposium promises to provide skeptics a platform

Read More »

My Coins

bitcoinBitcoin
$ 19,534.171.27%
ethereumEthereum
$ 1,093.651.72%
cardanoCardano
$ 0.4492321.67%
tetherTether
$ 0.9988440.1%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy

Bitcoin

Contact Us

For any question conatct us through:

sales@crypto-academy.org

Disclaimer: All information and materials on this website are for educational purposes only. Crypto-academy.org does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: sales@crypto-academy.org