Swiss-based cryptocurrency payments platform, UTRUST, is pleased to announce it has surpassed its softcap of 10 Million USD in the first 24 hours of its ongoing ICO, on the heels of a pre-sale event that sold out in 90 Minutes, generating $1.5 million USD in token sales.
[Note: This is a press release.]
Launched on November 2nd at 2:00 pm UTC, the upgraded ICO Launch Plan allows participants from the U.S to participate in the sales event provided they are accredited investors. Investment from this region will be subjected to a 12 month vesting period where the tokens purchased can neither be withdrawal nor sold. These changes are as a result of recent ICOs regulatory changes and the company’s full compliance with these requirements.
Issuing a blog post detailing these changes, UTRUST CEO, Nuno Correa, said:
(It) remains fully committed to adhering to all rules and regulations by entities such as the Swiss Financial Market Supervisory Authority (FINMA) in order to assure a legally compliant, and future-proof platform.
Touted as a game-changer and one of the first blockchain projects focused on broadening crypto consumption, UTRUST wants to change how merchants and buyers use cryptocurrencies by providing the missing link is the chain, a platform of mediation and trust.
UTRUST’s fundraising campaign is for the development and launch of the world’s first consumer-protected cryptocurrency platform. The platform aims to bring the gap between cryptocurrency and the mainstream market by providing a platform where buyers and sellers can safely exchange goods and services.
UTRUST’s flexible blockchain-powered payments platform is a disruptive escrow and dispute resolution ecosystem that enables users to shop for goods and services using their favorite cryptocurrency. Merchants on the platform can easily put up their goods for sale, knowing that payment will not only be prompt and directly, but also based on whatever currency they prefer, including fiat. By integrating smart contracts over its decentralized escrow system, UTRUST eliminates the potential for mistrust between sellers and buyers when cryptocurrency. The platform also protects merchants from crypto market volatility by allowing the convert their crypto to fiat on the fly.
Participants are able to purchase UTRUST tokens during the ICO at $0.065 per token, giving them access to the platform and enabling them to make transactions without fees. Tokens can be purchased using Bitcoin or Ethereum. Unsold tokens will be burned after the ICO and no other tokens will be issued.
Images courtesy of UTRUST
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