Utrust announced the integration of Tether as the first stablecoin on its platform. Adding a stablecoin to Utrust’s platform means more users for them in the first place. Now people interested in stablecoins can take benefit from the payment features of Utrust.
“With adoption as our goal, we’re breaking another boundary. Now, we’re introducing our first #stablecoin
@Tether_to, $USDT. It has a market cap of $7 billion, and it was one of our major 2020 goals,” tweeted Utrust.
Why Utrust Choose Tether as the First Stablecoin?
More adoption is the first reason that Utrust decided to add stablecoin. They now work with many merchants all over the world to make payments with digital tokens available for users. Alternative Airlines, Arms &McGregor, Luís Onofre, S.L. Benfica, Phone House, and eSolidar are some of them that will accept USDT from now on.
Any payment service working on the cryptocurrency ecosystem has to support stablecoins one day. Utrust believes in these novel forms of cryptocurrency and has been thinking about adding one for some time. They believe that stablecoins are the fundamentals of future money:
“By bringing protection against the volatility of the digital currencies market and providing investors and customers with the confidence to finally try out this technology, stablecoins are one of the keys to adoption,” said Utrust in the latest press release.
Utrust chose Tether because of its large market cap. USDT is believed as the biggest stablecoin on the market with a $7 billion market cap. Besides, it is one of the oldest ones and has faced significant adoption between traders and merchants. All these numbers mean that USDT has a substantial user-base, and now they can take benefit of payment features in the Utrust platform.
The volatility has always been a big challenge in the adaption of cryptocurrencies. Services like Utrust face this challenge more than anyone. They have to provide risk-free services to merchants to gain their trust. Now, with adding stablecoins to the services – and their protection against volatility -, some of those challenges may vanish.
“Now, we are delighted that any user that isn’t yet ready to fully embrace decentralized digital currencies can enjoy all the advantages of our services with a coin that will fully protect them as well,” added Utrust.