Utrust

Utrust is a cryptocurrency payments platform that enables businesses to accept cryptocurrency payments from customers. The company's technology allows merchants to receive payments in various cryptocurrencies, including Bitcoin, Ether, and Tether, as well as traditional fiat currencies. Utrust's cross-chain technology facilitates seamless transactions across different blockchain networks, helping businesses save time and money.

Utrust was founded in 2018 and initially operated under the name Utrust. In January 2022, the company was acquired by Elrond, a smart contract platform leveraging the web assembly (WASM) virtual machine. As of March 2022, Utrust had over 15,000 merchants utilizing its payment solutions.

In March 2022, Utrust received a full all-categories operating license from the Central Bank of Portugal (Banco de Portugal) to operate as a virtual asset service provider. This license allows the company to offer exchange services between fiat and digital assets, transfer virtual assets between wallets, and provide virtual asset safekeeping services. Utrust is the only company to date that has received this comprehensive license from Banco de Portugal.

Key customers and partnerships

In August 2021, Chinese technology giant Xiaomi partnered with Utrust to enable cryptocurrency payments at its Mi Store in Portugal, accepting currencies like Bitcoin, Ether, and Dash. This partnership aligned with Xiaomi's goal of being an innovative and disruptive brand.

Utrust has also formed partnerships with companies like Entropia Universe, allowing them to receive instant payments from customers worldwide using cryptocurrencies. These partnerships have enhanced business opportunities for the companies involved.