The Romanian central bank has approved the acquisition of payment service provider Twispay by blockchain firm Elrond to issue stablecoins in the EU.
A company representative notes that the deal aims to use the e-money license of Capital Financial Services, which operates under the name Twispay for individual and institutional transfers.
The announcement follows a similar acquisition by Elrond of crypto payment firm Utrust in plans to digitize the European financial sector.
Elrond is a blockchain company centered around distributed applications, while Twispay offers global payment services in multiple fiat currency options.
The payment provider is an agent of Visa and MasterCard service providers and can participate in issuing cards and merchant acquisitions.
Twispay is authorized by the Romanian national bank to issue electronic currencies and to operate in the European Economic Area.