UTRUST, Swiss-based cryptocurrency startup, recently announced a payments platform for cryptocurrencies. The platform, through its APIs, will enable brick and mortar and online merchants to receive payments directly in cryptocurrencies. The platform converts cryptocurrencies to fiat, enabling merchants to receive the compensation in US dollars, euros, or British pounds.
UTRUST’s goal is to become the PayPal of cryptocurrencies. The API-based platform provides three tools that have become expected from payment processors in the broader currency markets: dispute resolution, chargeback protection, and security. The entire platform, and APIs currently in beta, are expected to go live in early 2019.
UTRUST is paving the way towards a future where cryptocurrencies are ubiquitous across the globe. Filipe Castro, UTRUST’s CIO, has described an aggressive timeline for the rise of cryptocurrencies. Castro believes in three years, major online vendors will accept cryptocurrencies, offline vendors will accept within five years, and in ten years there will be state-issued cryptocurrencies from the major global economies.
UTRUST’s vision requires major advancement in the cryptocurrency space to achieve such milestones. Certainly, a PayPal-style solution for merchants across industries would increase the chances of making this a reality. Check out UTRUST’s latest interactive product roadmap to stay up to date, and voice your ideas to have a say in the company’s future product development.