(Press Realese) SEPTEMBER 11, 2017
Fintech solutions company UTRUST is set to transform the cryptocurrency payments landscape. With a team of experts from various consumer and corporate business, financial, legal, and technical fields, UTRUST is building the payments platform of the future as the PayPal of the digital currency market.
Since Bitcoin's inception in 2009, cryptocurrencies have solved problems that are inherent in today’s bank-based payment systems. Offering low fees and fast transaction times. Despite this, cryptocurrency adaptation in the field of day-to-day consumer transaction is still negligible in many parts of the world. In Singapore and many parts of Asia, for example, cash is still king. Despite the country’s recent push to be a center of global technological innovation, most people are still tied to centralized legacy institutions like banks to perform transactions.
In contrast, UTRUST will allow users to make payments to their mortgage using only their mobile phones — no bank account needed. This convenience can be extended to other payments such as car mortgages and online merchants. By tapping directly into the mainstream financial system, UTRUST users can enjoy unrivaled advantages.
One of the main issues hampering the adaptation of seamless cashless transactions is the lack of payment protections. UTRUST seeks to remedy this through built-in consumer protection features. This includes escrow-like trusted mediators, crypto-to-fiat settlement to counter the merchant risk of volatile currencies, as well as multi-cryptocurrency support.
Nuno Correia, CEO, said: "UTRUST sees the potential of cryptocurrencies and digital technology to transform financial services provision in both developed and developing markets. The potential gains are particularly exciting in emerging markets where mobile phone penetration could recreate the role physical banking infrastructure plays in developed markets."
UTRUST also provide equal protection for both the buyer and merchant. Buyers will have lower purchase risks, along with the peace of mind that secure transactions can be made at any time. Sellers will be rated according to their performance, and any payment disputes can be resolved more efficiently. Merchants, on the other hand, will enjoy lower seller fees and faster approval speeds, along with a zero chance for chargebacks. There is also a decentralized UTRUST token, whose value is linked to the projected growth of the platform as a whole.
With these user-centric payment security features, UTRUST aims to push for the mainstream adoption of cryptocurrencies. This will birth a blockchain-centric system for the masses, providing a fast, secure, convenient, and inexpensive platform for all transactions.
UTRUST Opens its Doors With a Token and Crowdsale
As part of its thrust to make UTRUST an integral part of daily consumer transactions, the company will launch the first round of public ICO on September 20th, 2017 (2PM GMT). There will be 7 upcoming ICO rounds in total, bringing UTRUST to $50 Million of funding.
The funds will then be used to establish key industry partnerships, and to develop the platform’s features. The Ethereum protocol will provide the backbone for the ERC20-compatible tokens, which can be used along with other cryptocurrencies as a means of payment.
UTRUST’s token can also be used to make zero-fee payments to thousands of merchants accepting cryptocurrencies on the platform. It can also be traded with other currencies on supported exchange platforms.
A certain portion of UTRUST’s revenue will then be allocated to buyback, to destroy the tokens in circulation. As a deflationary currency, UTRUST token demands will increase with time. Combined with the buyback, this will lead to an appreciation of its market value.
To learn more about UTRUST’s ICO, visit: https://utrust.io/ico