It seems that crypto adoption is on its way to massive intensification. A Swiss startup company is trying to make using crypto for online transactions just as simple as using PayPal.
Usually, one of the most frequent complaints regarding cryptos is that they are hand to spend.
We’re referring at UTRUST which was funded back in 2017 with $21.3 million in crypto. It’s slated for commercial launch in Q1 2019.
UTRUST supports crypto adoption
The UTRUST API aims at online and point-of-sale crypto acceptance worldwide.
The set of tools will come with a conflict mitigation system, chargeback protection and also a proprietary crypto which increases purchasing power on the platform, as reported by Cointelegraph.
While UTRUST has their own set on assisting global retailers in crypto use, the firm decided to launch its business in Europe.
The company signed some very important partnerships for extensive expansion.
For instance, the company teamed up with the German e-commerce solution provider called Gambio.de which has more than 25,000 online stores.
UTRUST estimates that Gambio-powered stores are generating about 30% of e-commerce revenue in Germany and therefore are in a dominant position for the company to expand more across the continent.
According to the startup, such partnerships could give thousands of merchants the ability to accept crypto easier while receiving fiat in their bank accounts.
More than that, customers will have access to a proprietary digital wallet with zero transaction fees.
UTRUST rides the crypto wave
The company’s primary target is to support all firms that it interacts with and also ride the wave of crypto.
“In three years, you will be able to pay online [with cryptocurrencies] at major vendors. This will come offline in another five years,” said Filipe Castro, UTRUST’s Chief Information Officer, and co-founder, via Cointelegraph.
“I am a strong believer that in the future, in ten years, you will have state-issued cryptocurrencies from major economies”, – added Castro.