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Elrond Announces Partnership to Access Markets in Over 200 Countries: Details

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Mon, 03/21/2022 - 14:45
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Tomiwabold Olajide
Elrond unveils strategic partnership with Singapore-based cryptocurrency exchange, MEXC Global
Elrond Announces Partnership to Access Markets in Over 200 Countries: Details
Cover image via stock.adobe.com

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Elrond CEO Beniamin Mincu has taken to Twitter to announce Elrond's strategic partnership with Singapore-based cryptocurrency exchange MEXC Global. In the terms of the partnership, MEXC Global will support projects in the Elrond Network ecosystem with guidance, funding and access to new markets in more than 200 countries, including the U.S.

Earlier in March, Elrond Network acquired Twispay, a Romanian payments company, with the approval of the country's central bank, the National Bank of Romania, to issue electronic money.

As covered by U.Today previously, Elrond Network (EGLD) recently acquired Utrust, a leading crypto payments product. As the Utrust suite of offerings includes instant transactions, buyer protection and crypto-to-cash conversion, this acquisition seeks to allow Elrond Network to change the game in e-commerce and cross-border payments.

Largely, Elrond Network (EGLD) hopes to advance its services for merchants that accept both cryptocurrency and fiat money. With Utrust's mechanisms, Elrond will offer nearly instant settlements in an almost zero-fee manner.

Elrond price action

Over the past 24 hours, Elrond's (EGLD) price has risen 4.83% to $172.47. It continued its positive trend over the past week, where it has experienced a 31% gain, moving from $132 on  March 14 to its current price of $172.85. As it stands right now, Elrond's all-time high is $542.

According to CoinMarketCap data, Elrond is the 35th largest cryptocurrency at a $3.71 billion market valuation. Elrond is a blockchain platform for distributed apps, enterprise use cases and the new internet economy.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.