Romania’s Central Bank, the National Bank of Romania has authorized Elrond blockchain to acquire the electronic money institution Capital Financial Services, which acts under the brand Twispay, according to an announcement on Thursday. Twispay provides payment services solutions in accordance with the National Bank of Romania including being a principal member of Visa and of MasterCard. By acquiring Twispay, Elrond is making a strategic move to establish itself as a bridge between traditional finance and the crypto industry in addition to providing an infrastructure for faster and cheaper payment solutions within the entire EEA (European Union, Iceland, Liechtenstein and Norway) region. “This landmark decision from the Romanian Central Bank opens the door for EU citizens, and soon for everyone everywhere, to significantly benefit from value flowing with near-instant settlement times, at 100x fewer costs, with full transparency, and higher reliability.” said Elrond founder and CEO Beniamin Mincu said. The negotiation for the acquisition started in October 2021 wherein the two parties started a long negotiation with the National Bank of Romania. The central bank finally decided on 8 March in favour of the acquisition of Twispay by Elrond after coming to the conclusion that blockchain technology plays a fundamentally important role in the evolution of finance.
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