{"id":20564,"date":"2022-03-10T13:16:08","date_gmt":"2022-03-10T12:16:08","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=20564"},"modified":"2022-03-10T13:16:15","modified_gmt":"2022-03-10T12:16:15","slug":"national-bank-of-romania-approves-elrond-blockchain-firms-purchase-of-twispay","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/national-bank-of-romania-approves-elrond-blockchain-firms-purchase-of-twispay\/","title":{"rendered":"National Bank of Romania approves Elrond blockchain firm’s purchase of Twispay"},"content":{"rendered":"\n
The National Bank of Romania has approved a blockchain acquisition, allowing Elrond, a blockchain firm<\/a>, to purchase a payment processing platform Twispay.<\/h5>\n\n\n\n
\"National<\/figure><\/div>\n\n\n\n

According to an announcement made on Thursday, Elrond, a blockchain startup focused on distributed applications, has acquired approval to purchase the electronic money institution Capital Financial Services\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, which operates under the brand Twispay.<\/p>\n\n\n\n

Twispay is a global payment solution that accepts several fiat currencies and integrates a variety of payment methods. The company is a main member of Visa and Mastercard, which means it has the ability to issue cards and acquire merchants.<\/p>\n\n\n\n

The company is also authorized by the National Bank of Romania to conduct payment services and issue electronic money, and it can operate across the European Economic Area<\/a>.<\/p>\n\n\n\n

Elrond is making a strategic move by acquiring Twispay in order to promote itself as a bridge between traditional banking and the cryptocurrency business.<\/p>\n\n\n\n

Elrond will also be able to provide an infrastructure for faster and cheaper payment solutions as a result of the acquisition.<\/p>\n\n\n\n

New stablecoins, crypto-enabled debit cards, and the benefits of DeFi, NFTs, and other Web3 technologies<\/a> that will improve the trust and efficiency of existing financial institutions are all possible use cases. <\/p>\n\n\n\n

Purpose of Elrond's acquisition<\/h2>\n\n\n\n

One of the main goals of Elrond's recent acquisition, according to a spokeswoman for the company, is to issue stablecoins.<\/p>\n\n\n\n

“The main goal is to leverage Twispay's e-money license for issuing stablecoins <\/a>that can be used in the EU, both for personal and business use for payments and value transfer, as well as potentially for official use at institutional level.”<\/p><\/blockquote>\n\n\n\n

“This historic decision by the Romanian Central Bank opens the door for EU nationals, and shortly for everyone everywhere,” Elrond founder and CEO Beniamin Mincu stated.<\/p>\n\n\n\n

Elrond first declared its intention to buy the e-money business in October 2021. Elrond has announced the acquisition of Utrust, a large crypto payments service provider<\/a>, in January 2022.<\/p>\n\n\n\n

The company's representative stated that the latest acquisition, along with the recent Utrust acquisition, aims to play a key role in the digitization of European finances by serving as the “carbon-negative, fully decentralized, inexpensive, and near-instant rails for a wealth of new financial services.”<\/p>\n","protected":false},"excerpt":{"rendered":"

The National Bank of Romania has approved a blockchain acquisition, allowing Elrond, a blockchain firm, to purchase a payment processing platform Twispay. According to an announcement made on Thursday, Elrond, a blockchain startup focused on distributed applications, has acquired approval to purchase the electronic money institution Capital Financial Services , which operates under the brand […]<\/p>\n","protected":false},"author":12,"featured_media":20570,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[130],"tags":[5508,8032,8034,8033],"class_list":["post-20564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","tag-blockchain-2","tag-elrond","tag-national-bank-of-romania","tag-twispay"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/03\/image-72.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/20564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=20564"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/20564\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/20570"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=20564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=20564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=20564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}