Digital Payments Solution UTRUST Achieves Soft Cap on Initial Day of Public ICO, Surpassing $10 Million

UTRUST’s vision of a decentralized payment system for the unbanked is off to a blistering start, raising all of its $10 million soft cap on the first day of its public ICO. The ICO experienced an equally high demand, selling out its earlier pre-ICO in just an hour and a half, and is well on its way to reach its hard cap milestone of $49 million in fundraising.

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One of the few ICOs with a US-friendly crowdsale structure, UTRUST has welcomed US citizens with investor accreditation, who are permitted participate in token purchases on a first come, first served basis. While subject to a 12-month vesting period on tokens sold, the unique opportunity in an otherwise limited avenue will have been of particular appeal to an important demographic of the cryptocurrency community.

UTRUST’s commitment to assure customer interests in the ICO continues to be proven by recent developments in regulatory optimizations to its structure. Its corporate membership in the Swiss government-backed blockchain incubator Crypto Valley, as well as its incorporation as a limited liability company in Switzerland are further evidence of this. Being legally compliant to all financial rules and regulations have helped ensure growing demand for tokens used to power its future-proof platform.

Meanwhile, the UTRUST team is carrying the project’s momentum, raising its profile and awareness in at nine major blockchain events this year across Europe, North America and Asia. It hopes to further advocate for its crypto platform that will bring the global financial economy to some 2.5 billion unbanked people and merchants through blockchain innovation.

UTRUST offers a simple solution focused on consumer protection. Acting as a mediator for transactions, both parties to transactions are relieved of liability. Users can purchase goods and services while merchants get paid, using their choice of cryptocurrency or traditional fiat. UTRUST’s customer-first solution will prioritize consumer protection, speed and low fees, enabling users and merchants to trade with their favorite currency, crypto or otherwise.


UTRUST has currently raised $10 Million and reached its soft cap in its ongoing public ICO. This in in addition to $3.5 million already raised in early fundraising and a pre-ICO that sold out in 90 minutes. UTRUST is the world’s first cryptocurrency payments platform with plans for mass-scale consumer protection. The startup’s global PayPal–like payments platform will feature extensive cryptocurrency support complemented by high-speed, low-fee transactions.

With a third of the world’s population forming Emerging Markets outside financial inclusion, UTRUST’s end goal is to bridge the unbanked with access to the mainstream global financial system. UTRUST’s public ICO launched on November 2nd, aiming to raise the funds necessary to establish key industry partnerships and to develop the world’s first PayPal-like cryptocurrency payments platform. The platform will utilize UTRUST’s ERC20 compatible tokens over the Ethereum protocol as its native currency, powering payments on the gateway together with other digital tokens and cryptocurrencies.

No new tokens will ever be issued. As UTRUST has plans to destroy circulating tokens as well as buy back portions of them over time, gradual scarcity and increasing demand is expected to lead to an appreciation in market value.

With only 700 million UTRUST tokens up for sale during the ICO and more than 427 million already sold in the first five days to almost 8,000 backers, tokens appear to be quickly running out at a base price of $0.065. UTRUST has revealed that its tokens (UTK) will be tradeable against several cryptocurrency pairs on several exchanges within a week or two after the end of the ICO on November 9th. Some of the exchanges already named are KuCoin and HitBTC.

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