UTRUST – The future of online payments is here


UTRUST – The future of online payments is here

On August 10, 2017 a new project made its announcement on the Bitcointalk.org forums: “UTRUST“.

In the following article we’re going to summarize the project as well as give you our opinion on whether or not to invest in it.

What is UTRUST?

UTRUST is a revolutionary payment platform that empowers buyers to pay with cryptocurrencies while providing a groundbreaking purchase protection mechanism.” (Source).

How does UTRUST work?

Buyer Protection Mechanism

  • Buyers can pay with any cryptocurrency they want.
  • Buyers benefit from the protection mechanisms they know from traditional online purchase platforms.

Fluctuation Protection for Sellers

  • Sellers can accept multiple cryptocurrencies at once and all payments will be converted to a fiat currency as protection from market fluctuations.

Value Coupling Token

  • The token can be used on the platform (spending it with merchants that support UTRUST).
  • The token can be used in private buyer/seller transactions.
  • The token can just be held (“The key difference versus all major tokens is that it has a business model backing it up” [Source]).

UTRUST introduction video

UTRUST compared with other online payment systems

UTRUST Comparison


  • Funding Phase
    • August 10, 2017: Pre-ICO Opens
    • September 10, 2017: ICO Opens
  • MVP Implementation Phase
    • Q2 2018: Platform Test API for Merchants (Integrate & test with merchant checkout mechanism; Test mediated chat mode)
    • Q3 2018: Client API, Wallet Web APP (Integration with major ecommerce platforms; Check your balance & transactions)
  • Staged Rollout Phase
    • Q4 2018: Native apps iOS, Android (200+ Merchants; Live Transactions)
    • Q1 2019: Platform refinements & Expansion (1000+ Merchants; Progressive hiring of Mediators)

ICO & Post-ICO

The first two rounds of the ICO are already over. The main ICO is going to start in October with a still unknown date (just keep checking their website for the date).

The facts of the main ICO are: 

  • Token price: $0,065
  • Tokens Issued: 700,000,000
  • Total Amount: $45,000,000

After the ICO the funds are going to be allocated as following: 

  • 51%: Employees
  • 21%: Marketing & Promotional
  • 14%: Legal & Regulation
  • 7%: Partner Engagement
  • 5%: Operational & Administration
  • 2%: Misc.

Important Links

Important Infos

  • Token: UTRUST
  • Total Supply: 1,000,000,000
  • Platform: Ethereum



Online Payment Platforms have already existed since a long time, but not using the Blockchain technology and the Ethereum platform. What also makes this project more innovative are all the advantages (Lower Overall Buyer Purchase Risk, Payment Approval Speed, Low Exchange Fees, Low Seller Fees, Acceptance of Multiple Cryptocurrencies, Safety of Funds, No Chargebacks, Efficient Resolution of Disputes, Performance-based Rating of Seller, Decentralized Token with Index Value) against its competitors.


The team consists (at the time of writing this article) of 26 members: Nuno Correia (CEO), Filipe Castro (CIO), Artur Goulão (CTO), Roberto Machado (CPO), Luís Ferreira (Head of Engineering), Laura Esteves (Head of Operations), João Ferreira (Head of Design), Nick Olender (Head of Sales & Partners), Miguel Palhas (Software Engineer), Francisco Baila (Product Designer), Gabriel Poça (Software Engineer), Ronaldo Sousa (Software Engineer), Fernando Mendes (Software Engineer), Bruno Azevedo (Software Engineer), Pedro Costa (Software Engineer), João Justo (Software Engineer), Francisco Maia (PhD, Distrib. Systems Advisor), Francisco Cruz (PhD, Architecture Advisor), João Paulo (PhD, Cloud Computing Advisor), Sérgio Viana (Product Advisor), Marc Howland (Financial Advisor), David Bryan (Strategic Advisor), Sascha Benz (Business Develop. Advisor), Lilian Yu (Marketing Advisor – China), Sydney Lai (Advisor), Dr. Dhiveshan Govender (Strategic Advisor).

Every and each of them has extensive and deep knowledge as well as experience in their respective fields. They all have their LinkedIn accounts linked there, so check it out yourself!

Potential of Use & Adaption

A lot of people use Online Payment Platforms like PayPal for example, so the demand for them is obviously very big. With all the advantages UTRUST offers it seems very possible for us that in the future many people that currently use PayPal will change to UTRUST.

Innovation: (4.5 / 5)
Team: (5.0 / 5)
Potential of Use: (4.5 / 5)

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