There is a new wave of excitement regarding the Ethereum Classic (ETC) token. Market players expect the token to go up in value as Ethereum Classic partners UTrust. Announcing the partnership via Medium, UTrust said the partnership will work towards ETC payment.
This is great news for enthusiasts of the digital token especially after the recent bear run. Investors of ETC hope that the new feature will help boost the token into the five best coin list. The investors expect demand for the coin t notch up. Up until the announcement, the Ethereum Classic blockchain network’s native token did not have payments option. With the announcement, the token joins Bitcoin and other major altcoins as payments media in the cryptocurrency space.
For UTrust, this is an opportunity to showcase their ability to provide security for payments. Speaking in relation to the announcement, Nuno Correia, CEO and co-founder of UTrust said:
“While blockchain payments have undoubtedly disrupted financial transactions, at Utrust we believe it’s our responsibility to add a much-needed layer of consumer protection, as well as instant transactions and low fees, for anyone who wants to utilize EthereumClassic for payments.”
Further, the announcement reveals that the payment solution comes at a time when ETC demand is going up.
Ethereum Classic partners UTrust to grow its token
UTrust prides itself as one of the leading payments solutions provider in the cryptocurrency space. As part of the motivation to sign the Memorandum of Understanding with ETC, the token has clear institutional demand. According to the blogpost on Medium, Ethereum Classic partners UTrust on the back of ETC’s growing potential. UTrust hopes that the MoU will bolster their company strategy and supplement their merchant payment protocol.
From the post:
“To supplement the UTRUST merchant payment protocol, the integration of cryptocurrencies with long track record, robust infrastructure, active developer community, and solid demand from the market is crucial.”
In essence, UTrust will only act as the mediator in transactions that involve ETC. The platform will carry funds until the transaction completes then release the funds to the receiver. On the other hand, ETC is banking on UTrust’s robust infrastructure, and high speed to grow its token.