A Swedish company wants to make crypto online transactions as simple and as safe as using PayPal. But can such a feat be accomplished in such a volatile marketplace?
Crypto Online Transactions
The cryptocurrency market is still considered to be in its infancy, and many skeptics believe that, as a currency, it is hard to spend it day-to-day.
Proof of this issue is that only 2% of online retailers accept crypto[1] despite the increase in adoption for traders and businesses alike.
Fear remains surrounding the volatile nature of a crypto’s price.
Enter UTRUST
But UTRUST is on the case. The company wants to make crypto online transactions and crypto point-of-sales a part of the norm. Its system will include a “conflict mitigation system, chargeback protection, and a proprietary cryptocurrency which increases purchasing power within the platform.”[2]
UTRUST and Gambio
The company has signed a partnership with Germany’s Gambio.de.
Gambio is an e-commerce solution provider with over 25,000 online stores. These stores power 30% of e-commerce revenue in Germany, so this puts UTRUST in a very good starting position.
Making partnerships like this one means that thousands of merchants will be able to accept cryptocurrencies in a simplified and casual way.
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Merchants will receive fiat currencies in their bank accounts, and the goal is to be up and running in the short-term:
“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.
Vendor Verses Buyer
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