For some time now since the market slumped, things haven’t quite looked up for Ethereum Classic in terms of market prices. ETC has been on a bearish move along with many other cryptocurrencies including Ethereum. However, things might soon go north for ETC now that one of the fastest-expanding payment processors has set its gaze on the crypto.
UTC And UTrust
At last, ETC fans can have something to smile about as ETC’s development team comes together with UTrust’s team to develop a payment solution for the cryptocurrency. Granted, such a solution would ultimately lead to an increase in demand for ETC and quite possibly be a game-changer for its trading value. That, coupled with the fact that ETC was recently listed on Coinbase, makes for good news for the ETC market. It’s worth a mention that Coinbase is one of the largest crypto exchanges in the world, and that means more exposure for Ethereum Classic in the crypto market.
Commenting on the partnership, UTrust’s CEO, Nuno Correia, said that as much as the blockchain technology has enabled decentralized payments methods and unsettled the traditional financial system, UTrust’s main goal is to support that revolution by ensuring better and faster transaction processing at low costs as well as guaranteeing consumer protection for users who want to adopt ETC for payments and fiat conversions.
UTrust In Transactions
As the developer of payment solutions, UTrust also doubles down as the third party in transactions made through its platform. If a buyer and a seller have a dispute, UTrust has the policies put in place to solve those disputes. In other worlds, UTrust’s dispute mediation processes work very much like what happens on PayPal or Visa.
The announcement of the partnership between ETC and UTrust puts the cryptocurrency on the list of other major cryptos supported by UTrust. These include Bitcoin (BTC), Litecoin (LTC), Ethreum (ETH), and Ripple (XRP). UTrust also plans to bring onboard more cryptocurrencies.
Cryptocurrencies make online payments much easier, faster, more secure, and much cheaper in fees charged as compared to other payment methods like Stripe and PayPal. Using cryptos, a user can send or receive payment from anywhere in the world just by a click of a button on their smartphone, and without any third party involved. In fact, third parties complicate the transaction process, and that’s one burden that UTrust wants to ease.