Recently, the CB of Romania announced that it had permitted Elrond to purchase the Twispay blockchain platform, with the help of which, in the future, the regulator will be able to issue its stablecoin.
Elrond is a government-backed blockchain firm concentrated on distributed applications. It was this firm that received the long-awaited permission from the Central Bank to acquire the Capital Financial Services electronic payment service, better known under the Twispay trademark.
Twispay, in turn, is a kind of conductor between the traditional financial sector and the virtual money industry. So, Twispay, in addition to supporting several fiat currencies, has a license from the Central Bank of Romania to issue electronic money, as well as permission to operate in the European Economic Area.
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According to Elrond's official statement, its main goal is to use Twispay's license to issue electronic money. Thus, this acquisition will take the Elrond blockchain company to a whole new strategic level. In the future, analysts say, Elrond will be able to offer its customers alternative, faster and cheaper payment solutions.
In addition to the above benefits of purchasing the Twispay service, Elrond will be able to start issuing stablecoins and debit cards with support for digital assets, as well as gain access to the DeFi market and the NFT space.