Elrond Network, a blockchain software developer, has announced that the Romanian Central Bank has approved the acquisition of Twispay, a payment provider licensed by the National Bank of Romania. The company said in a blog announcement that the deal will enhance its position in a move to establish itself as a bridge "between traditional finance and the crypto space."
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With Twispay, Elrond will explore new use cases applicable within a regulatory framework that may include support for stablecoins, crypto enabled debit cards, as well as benefits of decentralized finance (DeFi), non-fungible tokens (NFTs) and other Web3 technologies.
The move comes shortly after cryptocurrency exchange Binance launched its own payment provider called Bifinity. The new platform reportedly supports more than 50+ crypto assets, payment methods and systems such as VISA and Mastercard, API integration and low fee payment processing.
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