- Trading Name: utrust
- Legal Entity: MODERNITYPARTY OÜ, MODERNITYPARTY – LDA
- Activities: payment processor and merchant service provider
- Location: Estonia, Portugal
- Authorization: CashDash UK Limited is an FCA-authorized E-Money institution (EMI), Rapyd Europe hf. is an EMI under the supervision of the Central Bank of Iceland.
- Related individuals: Sanja Kon, Roberto Machado, Daniel Raissar, Artur Goulão, Filipe Castro, Nuno Correia
utrust, founded in 2017, is a crypto payment platform offering services to individuals and businesses.
The company streamlines the exchange between merchants and consumers by leveraging the power of blockchain and making payments cheaper, faster, and safer.
The utrust platform supports different digital currencies, and its native token, $UTK, built on the Ethereum blockchain. Utrust users can make payments for goods and services without an exchange rate fee if paid in the UTK token. Since a portion of the UTK token is burned with every transaction, the total supply of UTK decreases, causing a reduction of circulating supply. The more transaction throughput, the better the token performs.
In January 2022, Utrust was acquired by Elrond, a layer 1 smart-contract platform that leverages the web assembly (WASM) virtual machine.
In March 2023 Utrust received Operating License From Central Bank of Portugal.
Utrust was granted the only full all-categories license authorized by Banco de Portugal so far, according to Correia. The license allows a company to offer exchange services between fiat and digital assets, and between digital assets. It also enables a firm to transfer virtual assets between wallets and offer virtual assets safekeeping services, according to an official document published by the monetary authority.
utrust is a crypto company regulated in Estonia. The website provides all the necessary information about the operators. We have not found any significant complaints beyond that. Therefore, we put utrust on our Green Compliance list.