UTRUST, a global payment gateway has entered into a Memorandum of Understanding (MoU) with the Ethereum Classic Dev team for including ETC to the platform. Ethereum Classic Cooperative played a pivotal role in the integration of the crypto, which occupies one of the top positions in the global ladder in terms of its market cap amid market crash. With this partnership, Ethereum Classic takes another leap following its listing on the Coinbase trading platform that took some time to go live.
Referring to such high demands of this altcoin, Nuno Correia, the CEO and founder of UTRUST, went vocal on a Medium post, stating, “Ethereum Classic is one of the selected few cryptocurrencies with clear institutional demand.” “While blockchain payments have most certainly disrupted monetary purchases, at UTRUST our company believe it’s our responsibility to add a much-needed layer of consumer defense, as well as instantaneous purchases and low costs, for anyone that wishes to use Ethereum Classic for settlements,” she added.
Previously, the listing of the altcoin on Coinbase, the leading US based cryptocurrency exchange boosted the coin value by nearly 50% which eventually added $600 million to its overall value. Despite, the market upheaval, the digital currency managed to post solid gains and enjoy a decent year witnessing multiple partnerships, institutional investments and exchange listings. Added onto these developments is a statement from the Grayscale Investments that possessed $90 million ETC. This initiative of the institutional investor pushed up the confidence of the investors in the crypto.
UTRUST is a third-party arbitrating body involved in settling disputes between vendors and customers. The payment system promotes conversion of digital currencies to stablecoins or fiat currencies and protects the customers from the constant market fluctuation and coin volatility. “To supplement the UTRUST vendor repayment method, the combination of cryptocurrencies with lengthy track record, durable framework, energetic designer area, and solid demand from the marketplace is important,” reads UTRUST blog post.