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What is Utrust (UTK)?

Utrust is a digital payment blockchain platform that combines features of traditional online payment systems and blockchain technology in an attempt to offer the best solutions from both worlds.

The company streamlines the exchange between merchants and consumers by leveraging the power of blockchain and making payments cheaper, faster and safer. Using this model, there is no need for massive operational costs or conversion fees, and this is supposed to be reflected in consumer costs as a consequence of UTK’s tokenomics. 

The product makes the option of accepting and making cryptocurrency payments available to everyone who wants to venture outside of traditional finance. 

In addition, Utrust processes all the payments on-chain, while companies like PayPal are closed database systems that claim to process cryptocurrencies but don’t operate on the blockchain itself.

In brief

  • UTK is an ERC-20 token, secured by the Ethereum blockchain.
  • It is a highly liquid token capable of surpassing $300M of market cap.
  • Some UTK is burned every time a transaction happens.
  • The company is competing with PayPal. 

The UTK token

The Utrust platform supports different digital currencies and its native token, $UTK, which is built on the Ethereum blockchain. Utrust users can make payments for goods and services without an exchange rate fee if they are 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.

Out of the total supply of 500 million UTK, 450 million coins are in circulation as of November 2017, sold in the public offering. The remaining 50 million coins have been locked until 2022 in order to slow the effect of inflation and increase price growth. And since Utrust’s smart contract doesn’t allow mining, the total supply will never increase.

Utrust’s main features

  • Instant conversion from crypto to fiat.
  • Token-burn system decreases UTK supply, increasing token performance.
  • Buyer protection system similar to traditional payment rails.
  • Significantly lower fees than traditional payment rails.
  • No chargebacks.
  • On-chain payments for multiple blockchains.
  • Payments support for any wallet in the world.
  • Plugins and integrations with all major e-commerce platforms.

How does it work?

Utrust transactions begin with buyers first searching for merchants that accept cryptocurrencies. Through a merchant’s website, they can see if Utrust is an integrated application.

At this point the buyer is charged a total payment fee that covers a 1% commission and conversion fee. This is used to convert crypto into fiat with their own conversion rates.

Once the purchase is complete, the fiat money is held in escrow (a contractual agreement) and is only released after a holding period (pending a dispute in the transaction).

Finally, the seller receives the payment in fiat currency which he can withdraw or convert to other cryptocurrencies.


Utrust attempts to combine the best of blockchain and traditional finance with the consumer in mind. To do this, the company uses a robust tokenomic system with a clear incentive structure and third-party consumer protection mechanisms that it borrows from traditional finance. 

Cryptocurrencies are often accused of having no intrinsic or practical value, but UTK takes that criticism to task as the payment platform aims big in its attempt to dethrone PayPal and other payment giants. 

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