UTRUST Expands Into Physical Retail After Partnering with Pundi X
Cryptocurrency, for all of the interest it has garnered recently, is only just now starting to make inroads as a real payment method for real life goods and services. In other words, it is seemingly becoming more and more like an actual currency — something you might expect from tech that literally has the word currency in its name.
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Initially, the biggest names adopting crypto were mostly e-commerce sites like Steam and Overstock.com, with only smaller brick-and-mortar businesses ever seriously entertaining payment options like Bitcoin.
UTRUST Enables Physical Retailers to Accept Crypto
Now, it seems that could all change with the combined efforts of UTRUST and Pundi X. The two payment solutions have struck a deal with one another to to promote cryptocurrency payments in stores and secure them with consumer protection.
UTRUST will provide the consumer protection, while Pundi X provides the physical point-of-sale (POS) devices that will allow retailers to transact in, buy and sell multiple cryptocurrencies. Indeed, under the terms signed, UTRUST has agreed to acquire 1,000 such devices and equip them with their Paypal-like services for cryptocurrency account settling.
Furthermore, the partnership with UTRUST has brought Pundi X closer to its 3-year sales target of 100,000 devices, with total sales now amounting to over 25,000 — over ¼ of their stated goal.
UTRUST Brings Crypto Payment into the Mainstream
Both Pundi X and UTRUST have both focused on mainstream adoption as an overarching goal of their business efforts. UTRUST specifically believes the biggest barrier to outward adoption of crypto is the risk factor — extreme volatility and a lack of consumer protection being the two biggest contributors to this.
The CEO of Pundi X, Zac Chea, explained how their partnership mutually advances both startup’s goal of mainstream acceptance of cryptocurrencies:
“This is a major step for furthering the mass adoption of cryptocurrencies, which despite having taken the world by storm, still remain outside the engine room of the global economy in consumer spending.”
In addition, the recently forged partnership follows another notable deal between UTRUST and Gambio GmbH, an ecommerce giant in Germany, an action which also undoubtedly marks a major step in the direction of mass adoption.
UTRUST claims to be the world’s first payment platform for cryptocurrencies featuring Buyer Protection and Instant Payments. The company wants to build a PayPal-like reputation for cryptocurrency payments by facilitating them in a secure and user-friendly way. Providing faster, safer and more convenient payments is the platform’s ultimate goal, which could ultimately bring about large-scale adoption and user acceptance.
Image via UTRUST
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