Deloitte Legal affiliated firm Reff & Associates provided both sell-side and buy-side assistance on Elrond Network’s acquisition of Twispay.
“Elrond made a strategic first move to establish itself as a bridge between traditional finance and the crypto space when it went public with its intention to acquire Twispay, an institution that can operate within the entire EEA (European Union, Iceland, Liechtenstein, and Norway) under the passporting rules,” an Elrond press statement announced.
Twispay is a financial institution operating in Romania. Licensed by the National Bank of Romania, the company is authorized to provide payment services and to issue electronic money.
Founded in 2018, Elrond Network is a blockchain company.
“The acquisition of Twispay by Elrond Network is a premiere from multiple perspectives: it is not only the first M&A deal in the e-money sector in Romania but also an acquisition of relevance for the financial sector beyond Romanian borders, … looking to build upon blockchain’s potential contribution to the evolution of finance,” Reff & Associates Partner Andrei Burz-Pinzaru commented.
The team advising Twispay included Partner Georgiana Singurel, Senior Managing Associate Andreea Serban, and Senior Associates Iulian Maier and Alexandru Ulici.
The team advising Elrond Network consisted of Burz-Pinzaru, Senior Managing Associates Silvia Axinescu and Gabriela Ilie, Managing Associate Andreea Zaharia, Senior Associates Linda Ungureanu and Mihnea Radu, and Associates Danut Arion and Irina Picos.