UTRUST receives $3.5m as it gears for ICO launch next month


Switzerland-based cryptocurrency payment platform UTRUST has received $3.5m from private investors and its pre-ICO sale.

The company is set to launch its ICO at the beginning of October, with it planning to sell 700 million of its tokens, to raise around $45.5m. There is a minimum investment to the ICO of 0.2 ETH or 0.02 BTC.

UTRUST is an online payment processor solution, which connects with multiple cryptocurrencies. The solution allows merchants to accept various payment types, while receiving fiat currency, which are used to create protection for the user from market volatility.

Through the platform clients can get instant payment approvals, low exchange fees, low seller fees and no chargebacks

The proceeds from the sale will be used to help the company establish the platform in the cryptocurrency world and the digital payments network. The company will buyback the uTrust tokens at market rate, with a maximum cap on the burn rate, to help keep sustainable market.

Next year the company hopes to launch a client API, wallet web app, and native apps for android and iOS’.

Copyright © 2017 FinTech Global

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