Elrond Network acquires Twispay

Thursday 10 March 2022 14:51 CET | News

Elrond Network, a layer 1 blockchain, has acquired Romania-based payments firm Twispay, and with it the approval to issue e-money by the National Bank of Romania.

Elrond, which recently acquired payments gateway Utrust, did not disclose the financial details of the acquisition, but it was called a ‘landmark decision’ on the part of a European central bank.

Electronic money, or e-money, is broadly defined as an electronic store of monetary value used for making payments to entities other than the e-money issuer. As a standardised means of payment, it’s been around for over a decade, enshrined in European Union directives and regulated by central banks.

Under EU passport rules, the licence will allow Elrond to operate e-money services across the EU, Iceland, Liechtenstein, and Norway.

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Keywords: acquisition, e-money, banking license, blockchain, merger
Categories: DeFi & Crypto & Web3
Companies: Elrond, Twispay
Countries: Europe
This article is part of category

DeFi & Crypto & Web3




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