The acquisition includes the full transfer of Capital Financial Services shares, which could enable Elrond Network to facilitate the access to financial services in compliance with current regulation. Thus, the company could offer, for instance, customer accounts with IBANs, associated debit cards, and payments of e-money currencies.
e-money has been designed as a digital alternative to cash for automating financial transactions in areas such as payments and ecommerce. Elrond Network seeks to augment the utility of this transfer framework and take it to its conclusion by complementing it with blockchain technology.
The last step necessary for the completion of Capital Financial Services acquisition by Elrond, is the approval of Romania’s National Bank.
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