For some time, since the market collapsed, things did not go well enough for Ethereum Classic in terms of market prices. ETC has had a bearish move along with many other cryptocurrencies including Ethereum. However, things could soon go north for ETC, now that one of the fastest growing payment processors has set its sights on cryptography.
UTC and UTrust
Finally, fans of ETC can have something to smile about ETC development, the team joins the UTrust team to develop a cryptocurrency payment solution. Of course, such a solution would eventually lead to an increase in demand for ETCs and could probably be a turning point for its commercial value. This, combined with the fact that ETC has recently been listed on Coinbase, is good news for the ETC market. It is worth mentioning that Coinbase is one of the largest encryption exchanges in the world, and this means more exposure for Ethereum Classic in the encrypted market.
Commenting on the partnership, UTrust's CEO, Nuno Correia, said that as much as blockchain technology enabled decentralized payment methods and destabilized the traditional financial system, UTrust's main goal is to support this revolution by ensuring better and faster transaction processing at low cost and ensuring consumer protection for users who wish to adopt ETC for fiat payments and conversions.
UTrust In Transactions
As a payment solution developer, UTrust also doubles as a third party in transactions through its platform. If a buyer and seller have a dispute, UTrust has implemented policies to resolve such disputes. In other worlds, UTrust dispute mediation processes work much like PayPal or Visa.
The announcement of the partnership between ETC and UTrust places the cryptocurrency in the list of the other main cryptos supported by UTrust. These include Bitcoin (BTC), Litecoin (LTC), Ethreum (ETH) and Ripple (XRP). UTrust also plans to add other cryptocurrencies.
Cryptocurrencies make online payments much easier, faster, safer and much cheaper in terms of fees charged than other payment methods like Stripe and PayPal. Using cryptos, a user can send or receive payments from anywhere in the world simply by clicking on a button on their smartphone and without any third parties involved. In fact, third parties complicate the transaction process, and this is a burden that UTrust wants to lighten up.