UTRUST partners with Ethereum Classic Dev Team by signing the Memorandum of Understanding (MoU). The ETCDEV integrated with UTRUST to collaborate ETC into the UTRUST protocol with the active support of the Ethereum Classic Cooperative.
The main reason behind the integration is the rapid demand for ETC because of its recent assimilation with the Coinbase, world’s leading cryptocurrency exchanges platform.
Moreover, when the Securities and Exchange Commission (SEC) of the U.S. declared Bitcoin and Ethereum as non-securities. This declaration implies that Ethereum Classic is considered as a secured token from others.
With this, the vendors can freely power the ETC as a payment mode to fiat. In relation, the users can agree that using ETC is not an illegal act and is fully secured.
In the year 2017, the Grayscale Investments, introduced the Ethereum Classic Investment Trust allowed the regulators and the firms of the U.S. market to invest in Ethereum Classic.
The Grayscale Investment distributed around $90 million into the ETC. This demarcates the long-term growth and rate of ETC as a leading cryptocurrency.
Nuno Correia, CEO, and Co-founder of UTRUST stated that:
“While blockchain payments have undoubtedly disrupted financial transactions, at UTRUST we believe it’s our responsibility to add a much-needed la layer of consumer protection, as well as instant transactions and low fees, for anyone who wants to utilize Ethereum Classic for payments.”
UTRUST behaves as a mediator by carrying the funds (if required) till the fund is safely received by the receiver. Moreover, the platform aims to protect the interest of the buyers and sellers by making the settlement more enjoyable.
In addition, if the party fails to receive the agreement then it acts as a base as in case of another traditional payment mode like Paypal, Klarna, and VISA.
The platform felicitates robust infrastructure, high speed, active developer community and so far.
Hope this integration will turn out to be a fruitful one in the long run by making it more profitable.