Elrond Network platform bought payments company Twispay
The Romanian Central Bank has approved the acquisition of Twispay by Elrond
10.03.2022 - 14:55
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What’s new? Elrond Network, a blockchain platform, has acquired Romanian payments company Twispay, and with it the approval of the National Bank of Romania to issue electronic money. Elrond did not disclose the financial details of the deal. CEO Beniamin Mincu called it a “landmark decision” by Romania’s central bank.
What are Elrond’s prospects? Under EU permits, the license will allow Elrond to offer its services in the European Union, Iceland, Liechtenstein, and Norway. Under the law on Markets in Crypto-Assets Regulation (MiCA) proposed by the EU Commission, licensed institutions dealing with e-money can issue stablecoins.
“We’ve been having focused conversations with the Romanian Central Bank about acquiring an e-money licensed institution that enables us to create stablecoins, for instance, in a legal and compliant way,” Mincu said.
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