UTRUST is partnering with Uphold to strengthen its signal to 184 countries worldwide. Uphold is a premiere crypto-to-fiat processors, which currently services 23 traditional currencies across the world.
UTRUST core technology along with Uphold’s global presence. This connectivity will help merchants to have increased security and benefit of cryptocurrency payments while protecting them from market volatility.
Moreover, the merchants using the UTRUST platform are able to pay directly to their bank on the same day in 23 different fiat currencies.
This partnership will work to solve key difficulties like mass adoption and utilization of cryptocurrencies around the world . Furthermore, it applies to both customers and merchants.
The UTRUST platform seeks to remove the difficult credit-card chargebacks and corrupt payments through its dispute management system. The cost of credit card fraud, alone in the U.S to exceed $12 billion by 2020.
By using cryptocurrencies, UTRUST will help merchants on processing fees by charging a fixed 1 percent fee on all transactions.
UTRUST and Uphold’s together can bring payment connectivity and financial services using cryptocurrencies worldwide. This will include offering financial services to around 2.5 billion unbanked people in upcoming markets worldwide.
Moreover, Uphold allows innovation in FinTech providers by using its licensed relationships with global banks to have fiat-to-crypto payments applicable, which were previously impossible.
This is a very important step before the UTRUST official launch, as this will place both the platforms to be global leaders in digital payments.
UTRUST CEO Nuno Correia says,
“This partnership with Uphold provides a significant step to modernise the finance and payments industry and solves most of the traditional payment methods problems.
According to Robin O’Connell, Uphold’s CRO,
“ A Merchants want to offer payment and a consumers want to pay in crypto. UTRUST has developed a system that makes it very easy for merchants to accept crypto while solving the problems around price volatility and fraud. Uphold offers UTRUST merchants to qucikly convert between multiple fiat and cryptocurrencies.”
In Addition, This partnership between Uphold and UTRUST will be important in the run-up to the launch in the upcoming weeks. Also, this is the final addition to the network of partnerships which will take scaling to a global level.