PayPal for Crypto: Up to 25,000 Online Stores in Germany May Accept Digital Money in 2019

The UTRUST API is aimed at online and point-of-sale crypto acceptance worldwide.

While UTRUST has their sights set on assisting global retailers in the use of crypto it has decided to launch its business in Europe.

According to UTRUST´s estimates, Gambio-powered stores generate about 30 percent of e-commerce revenue in Germany and therefore are in a powerful starting position for UTRUST to expand across the continent.

UTRUST says these partnerships mean that from the first day of operation, thousands of merchants will be able to accept cryptocurrencies in a simplified way, while receiving fiat currencies in their bank accounts.

UTRUST customers will have access to a proprietary digital wallet which allows zero fee transactions.

The company believes, the large amount of merchants will offset the lower figures of cryptocurrency use, gaining UTRUST a substantial foot-hold in the on coming crypto economy.

While several companies like BitPay or Coinbase have risen to the challenge of bridging the gap between crypto and traditional vendors, UTRUST differentiates itself as "The first cryptocurrency payment solution to offer instant transactions, buyer protection, and crypto-to-cash settlements." In a marketplace which is often seen as too volatile for both merchants and users, an offer to bring peace of mind to both may indeed make a difference.

While PayPal protects only physical goods, UTRUST extends its security proposition to include services, too.

UTRUST recently announced that the former eBay head of European partnerships and Head of Marketplaces and Large Enterprise Partnerships for PayPal in the U.K, Sanja Kon, has joined the company.

UTRUST was successfully funded with $21.3 million in crypto in 2017, it is slated for commercial launch in Q1 2019.