UTRUST, a cryptocurrency payment solution designed to modernize the finance and payments industry, announced on Tuesday that customers in 184 countries worldwide will now be able to access its solution thanks to its partnership with open, trusted and transparent digital money platform, Uphold.
UTRUST reported it is vowing to completely modernize the finance and payments industry and eliminate the risk of fraud and market volatility for buyers and merchants alike, by providing comprehensive and first-of-its-kind buyer protection and instant crypto-to-fiat conversions.
“UTRUST core technology supported by Uphold’s global presence and connectivity will allow merchants to take advantage of the increased security and convenience of cryptocurrency payments, while protecting them from market volatility. Most importantly, merchants using the UTRUST platform will be able to settle directly to their bank on the same day in 23 different fiat currencies.”
Speaking about the partnership, Nuno Correia, Co-Founder and CEO of UTRUST, stated:
“This is a remarkable day in the journey of UTRUST and we are truly delighted to be partnering with Uphold. At UTRUST, we are on a mission to shake up the finance and payments industry and to help tear down the barriers of traditional payment methods. We see a future without inconvenient credit-card chargebacks and fraudulent payments – currently costing merchants billions every single year. In fact, the cost of credit card fraud in the U.S. alone is expected to exceed $12 billion USD by 2020. By enabling merchants to take advantage of all the benefits of cryptocurrency payments, UTRUST and Uphold’s partnership insulates them from these threats, while providing an exceptional opportunity to grow their customer base among the ever-expanding crypto community.”
Robin O’Connell, Uphold’s CRO, added:
“Merchants want to offer payment choice, and in certain geographies, consumers want to pay in crypto. UTRUST has developed a system that makes it simple for merchants to accept crypto while solving the issues around price volatility and fraud. Uphold makes it easy for UTRUST merchants to instantly convert between multiple fiat and cryptocurrencies, and we’re excited to see UTRUST merchants launch in the coming days.”