Elrond acquires crypto payments firm Utrust

The terms of the deal were not disclosed. Both platforms have tokens, and the firms said the combined community will be updated early this year on the final mechanics of the deal from a tokenholder perspective.

Allowing online payments to take advantage of Web 3, the next generation of the internet built around decentralized applications, is the stated goal of Elrond and Utrust. Once the Utrust payment gateway has been integrated into Elrond, the next step involves offering merchants access to decentralized finance (DeFi) and blockchain-based staking.