• Elrond Network bought Utrust, a crypto payment platform.
• This acquisition will enable faster, more affordable, and safer payments using blockchain.
• Elrond asserts its network is capable of processing 100,000 requests per second.

Elrond Network announces the acquisition Utrust. Utrust is one of today’s most popular cryptocurrency payment platforms. Elrond’s recent acquisition helps to open the door for a high-bandwidth and low-latency financial system, which can be accessed by everyone from all parts of the world.

The acquisition of Utrust sets to establish Elrond’s two goals. Blockchain technology is enabling faster, safer, and cheaper payments. Elrond has a second goal: to improve merchant income by offering a way for merchants convert traditional practices into new income streams.

Elrond plans to revolutionize payments and e-commerce by acquiring Utrust. Utrust claims to be the first cryptocurrency payment system that offers buyer protection and crypto cash settlement.

Elrond uses blockchain technology to allow payments to be made digitally. It will offer fast, secure, and instant global settlements. Elrond boasts that it can perform more than 100,000 transactions per minute.

It is also aiming to introduce powerful Decentralized Finance (DeFi), to help create paradigm shifts through the use of merchant yield products.

Beniamin Mincu is CEO Elrond Network.

Payouts should occur almost instantly, worldwide, at no cost. Our primary objective is to make this possible for all merchants. Merchant Yield will be our second product. It is a DeFi first payment processing solution which will not only provide merchants with a return on their transaction, but also allow them to make a profit. These are significant implications that cannot be overstated.

Many payment processors offer slow settlement times and often charge merchants between 3% and 11% on each transaction. For many companies, this amount can make the difference between bankruptcy and profitability.

Elrond makes settlements faster and lowers costs by using blockchain technology. Elrond also aims at transforming them into scalable revenues. Merchants can now access the crypto market worth multi-trillion dollars and earn instead of paying for it. Sanja Kon is the CEO at Utrust.

It seemed as absurd to us that payment could be transformed from being a cost to become a revenue stream. This was something we discovered together, as well as the future of payments, after exploring it with Elrond. Therefore, we decided to team up and expedite the DeFi payments’ implementation.

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