The UTRUST pre-ICO results are in, and they are incredibly impressive. This project aims to provide the world’s first cryptocurrency and bitcoin payment platform with consumer protections in mind. Many seem to agree that this was something needed in our world, as the project’s pre-ICO sold out in just 90 minutes. Let’s take a closer look at the project, how its pre-ICO performed, and its team.

$1.5 Million in 90 Minutes

If we were to break down how much money this project raised per minute, it would be just under US$16,700. On August 28th, when the pre-sale went live, UTRUST’s support channels and infrastructure experienced massive slowdowns. The demand for UTRUST’s tokens was that high. These are good problems to have. The company quickly hit its pre-ICO cap of US$1.5 million. If it had not capped it, investor demand may have gone even further. There were over 1,100 backers who were able to purchase tokens, and another 3,000 had registered but were too late.

The team plans on using the money raised to solidify its development roadmap – including development, partnerships, and marketing – to get this product out to market. They will begin the first round of public ICOs on September 20th, with a higher cap of US$4 million dollars. This means those investors who missed out on the pre-ICO will still have a chance to buy tokens.

The Reason for This Level of Investment Enthusiasm

Clearly, there is a fair amount of investor confidence in this project. One of the main reasons for this is the platform itself. The concept is not unlike building the PayPal of cryptocurrencies, but it goes beyond that. Payments will be fast, backed by the blockchain, secure, and – most importantly – have consumer protections.

Probably the largest reason for the project’s success and backing is the extremely experienced team working on it. The individuals working on this project have a great vision for where they want the project to go and the business acumen to get it there.

Nuno Correia, CEO

Nuno Correia has started many B2B businesses in the past and has a real passion for improving the world of digital payments. As an early cryptocurrency enthusiast – he entered the field in 2011 – he sees the disruptive potential of the technology and wants to combine his two passions of digital payment improvement and cryptocurrency. The result is UTRUST.

Filipe Castro, CIO

Filipe Castro is an enthusiastic business development professional with a degree from a prestigious institution. He has a wealth of experience in payment systems and is eager to disrupt that market as much as possible along with the rest of the UTRUST team.

Artur Goulão, CTO

Another team member with payment systems experience, Artur Goulão has a computer science background from MIT and IST. Both traditional and new smart contracts are his forte.

Roberto Machado, CPO

Roberto Machado is all about the end user experience. He has experience building great software and products with major international companies and is excited to bring his expertise to build UTRUST with the rest of the team.

The rest of the UTRUST team also shares this passion for, and experience in, disrupting digital payment solutions. Following their progress will be very interesting.

Check out their website here: https://utrust.io

Their whitepaper can be found here: https://s3-eu-west-1.amazonaws.com/utrust/UTRUST-whitepaper-v1.0.1.pdf

Information about their upcoming ICO can be found here: https://utrust.io/ico

This is a sponsored post and does not necessarily reflect the opinions or views held by any The Merkle employees. This is not investment or trading advice; the responsibility of due diligence rests solely on you.