UTRUST Partnership with Ethereum Classic Dev Team to support ETC payments
UTRUST, a payment platform has announced that it will join hands with the Ethereum Classic Dev Team. The company has signed a Memorandum of Understanding (MoU) with ETCDEV to integrate ETC to its platform with the support of Ethereum Classic Cooperative. ETC has been progressing well in the market and currently is one among the 4 coins of the top 20 coins gaining in the market amid a market crash.
A few weeks ago Coinbase announced the listing of Ethreum Classic on the exchange. Though it took a few days for Coinbase to let the listing go live, an eager investor community watched the coin prices go up by around 50% which means it’s total value climbed up above $610 million. Another milestone that helped Ethereum Classic to ‘up the ante’ is an announcement from Grayscale Investments. The firm declared that it held $90 million worth of ETC. This institutional investment while the cryptocurrency market is just becoming popular among the mass audience will pave a way for increased adoption of cryptocurrencies and an increased investor confidence in the coin.
“Ethereum Classic is one of a select few cryptocurrencies with clear institutional demand,” said Nuno Correia, CEO and co-founder of UTRUST, according to a Medium post. “While blockchain payments have undoubtedly disrupted financial transactions, at UTRUST we believe it’s our responsibility to add a much-needed layer of consumer protection, as well as instant transactions and low fees, for anyone who wants to utilize Ethereum Classic for payments,” she added.
UTRUST helps companies convert their cryptocurrencies to fiat or stablecoins protecting the customers from market volatility. UTRUST acts as a third-party mediator between sellers and buyers. The company also facilitates dispute resolutions between sellers and the buyers. Ethereum Classic is having a prosperous year with institutional investments, exchange listings, and partnerships. The cryptocurrency is also gaining in the crypto market and is posting solid gains.
“To supplement the UTRUST merchant payment protocol, the integration of cryptocurrencies with long track record, robust infrastructure, active developer community, and solid demand from the market is crucial,” wrote UTRUST on their own blog.