UTRUST’s public ICO will be set in October. The company will use the collected funds to establish key industry partnerships and to develop the world’s first PayPal-like cryptocurrency payments platform. The ERC20 compatible tokens are created over the Ethereum protocol, and can be used as a means of payment on UTRUST’s payment gateway along with other cryptocurrencies. UTRUST’s token can be used for making zero fee payments to the thousands of merchants accepting any cryptocurrency via UTRUST, and be traded against other currencies on supported exchange platforms. UTRUST will allocate a certain portion of the revenues to buyback and destroy the tokens in circulation. Being a deflationary currency by design, the demand for UTRUST tokens will increase with time, which combined with buyback should lead to appreciation in its market value.

http://bitcoinagile.com/13181F8/utrust-raises-35-million-for-blockchain-payments-platform-public-ico-in-october-bitcoin-pr-buzz_stream