Powerful partnerships have been at the core of business success for many top-performing companies, across almost every industry. SOMA and UTRUST shake hands, combining knowledge, cost scaling, and in-house payment advantages to accelerate leverage on the market.
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For a few months now, we have been reading about many interesting and thought-provoking projects coming out of the crypto sphere, but rarely do we read about partnerships. From a business perspective, this is one that makes sense.
UTRUST, operating out of Switzerland, are already well on the way to developing support for payment with maximum consumer protection and usability, seeking to streamline payments into an efficient ecosystem which will ultimately maximise feasibility of use for the end user. What, then, would be the effect of moving this payment system in-house with another decentralised service, which operates entirely on fee-based transactions?
That company is SOMA, who are working on using the blockchain to connect communities in the ecosystem, and incentivising its users to perform “value-adding services for the benefit of the community as a whole.”
“Soma is proud to announce a partnership with UTRUST,” stated co-founder Joseph al Sharif, “UTRUST is a revolutionary payment platform that empowers buyers to pay with cryptocurrencies while providing a groundbreaking purchase protection mechanism. Soma and UTRUST will both benefit by this fruitful partnership and we are excited to begin this collaboration as a long-term union between two innovative concepts.”
Fusion of these two companies will certainly see SOMA taking advantage of the decreased transaction costs of payment provided by UTRUST. Shared knowledge between the two teams will be worth its weight in gold in an environment that is constantly changing. UTRUST stand to benefit from a major pipeline for business from SOMA, representing investment in the future that is compelling.
“Diversification” is a word investment enthusiasts come across more times than is worth mentioning in the day. UTRUST and SOMA have demonstrated that diversification doesn’t have to be so out of line with current strategies. Spreading risk over multiple channels of business will make the partnership more durable. Together, SOMA and UTRUST hope to not only improve the experience of consumers via payment protection and decreased fees, but also the community, by ushering in an “era of decentralised social wealth.” Perhaps SOMA and UTRUST together will rival modern-day behemoths Amazon and eBay?