The Portuguese-born crypto project Utrust was finally able to register its trademark in the United States. This legalization is the fruit of 18 months of efforts and negotiations with the American administration. The license obtained should allow American users to integrate the payment network already present in other countries such as Portugal. Indeed, the company aims to further expand its network and the choice of the United States was logical.
Utrust becomes a registered trademark in the United States
The Mark Utrust (UTK) is a blockchain platform that supports electronic payments. Its particularity is that it combines classic payment functionalities with those of DeFi. Thanks to its American license, the company will now be able to cover several categories for its payment system. Allusion made here to smart cards and contactless means of payment. These include, among others, near field technologies (NFC) and radio frequency identification (RFID) technologies. The Utrust network now provides support for all these means.
American businesses wishing to do so will now be able to use terminal equipment. This equipment is essentially: smart card readers, smart card terminalse, or even building access readers. That’s not all, since the network will also take into account the saccess control systems to premises and data. Finally, there will be support for proximity card readers and electronic card readers, to accept payments in cryptocurrencies.
Utrust is now registered as a legal business in the United States, specifically in the state of Delaware. It is in this same small state that other tech giants such as: Google and Apple are registered.
What services for American investors?
Since February 17, 2021, Utrust has filed its application with the USPTO (United States Patent and Trademark Office). Eventually she was officially registered on July 26, 2022. Some of the services that the brand will be allowed to render on American soil are numerous. Examples include credit card payment processing, currency trading, credit card issuance and financial exchange of virtual currency. US investors will also be able to take advantage of electronic cash transactions, electronic funds and money transfers.
Besides these options, they will also be entitled to two types of supplies. On the one hand, the provision of electronic processing of credit card transactions and electronic payments via a global computer network. On the other hand, the provision of multiple payment options through electronic terminals available on site in retail stores. Finally, Utrust provides them with communications by computer terminals, data broadcasting, transmission of digital files and computer software design.
It was last March that the Utrust platform obtained its license from thea Portuguese Central Bank to operate as a virtual asset service provider. With its penetration into the American market, the company extends its network of influence.
Utrust: a futuristic means of payment?
Utrust’s goal is to provide a universal means of payment on the scale of the Internet network. Now network users can already use various cryptocurrencies. Payments can therefore be made with bitcoin, ethereum, USDC and USDT in partner stores.
Similarly, remember that Utrust itself is the depositary of a cryptocurrency with the same name and symbol UTK. Currently, its price is $0.15 and its market value is around $71 million. Before getting a license from the Bank of Portugal, the company operated throughout the territory of the European Union with a license from Estonia. However, a license from Portugal further reassures the partners of the online payment service specializing in cryptocurrencies.
Conclusion
The leaders of Utrust had made the American license a priority. This is why, despite the many obstacles, they have never given up. Besides, Nuno Correia, co-founder of Utrust and director of strategy, announced on his Twitter account his satisfaction. Ultimately, the new license obtained from the US authorities should make it possible to begin serving US businesses and users with Internet-scale payments.
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