Netopia is a Romanian company founded in 2003 to simplify the payment process through technology. About 30,000 Romanian retailers using the local electronic payment platform Netopia can technically accept the Romanian crypto coin eGold as a payment method after the e-payment platform signed an agreement with the company operating the coin Elrond, Romania-Insider reported.
A test to see the public acceptance of such a volatile payment means will be the share of the 30,000 retailers that will accept the coin.
The value of eGold dropped from USD $202 on February 9 to USD $110 on February 23, after an outstanding rally from USD $8 last November.
CEO of Elrond Beniamin Mincu says, “Over 100,000 Romanians have downloaded the [e-wallet] Maiar application, and most of them already own eGold. Both they and other members of the Elrond ecosystem will benefit from the processing times and low costs of blockchain technology in everyday life. Integration with Netopia is an important first step towards creating a global payment network that uses Elrond technology.”
In the first phase, the integration will allow eGold to be used for payment in online stores. More than 30,000 merchants registered in the Netopia system will be able to accept eGold as a payment method.
The company is the digital payments leader in Romania, with a market share exceeding 70%, and includes customers such as Carrefour, Tarom, and Selgros.