Crypto adoption in Europe is all set to receive a major push, as the giant technology retailer Phone House will accept crypto payments via UTRUST payment gateway. This crypto payments using the USTRUST platform will begin from August 14.
— Utrust (@UTRUST) July 25, 2019
In an official Medium blog post, UTRUST stated that it strongly believes that it is important to encourage businesses with huge customer bases and large transactional volumes, like Phone House, for pushing global crypto adoption to the next level. It further added,
Phone House is in an important part of their next growth phase. Their new website was just launched and will serve as a portal for purchasing electronics through both traditional and digital finance. This is where UTRUST comes in. Starting on August 14th Phone House will onboard UTRUST to enable easy crypto payments for their customers.
Phone House is expected to adopt aggressive global expansion plans, not only in Europe, but also in South America, North Africa, Asia, and the Middle East. If that partnership survives the test of time, growth prospects for UTRUST are enormous. Especially, given the fact that it is one of the only crypto payment gateways to offer buyer protection, and crypto to cash transactions, it would be a perfect partner to Phone House.
Consumer electronics, like smartphones, laptops, smart televisions, have a huge market in Europe, amounting to a whopping €56 million. This industry, which is steadily moving towards digital payments completely, remains underserved by the crypto industry at large. Platforms like UTRUST can open doors to unlimited possibilities for the crypto space, as penetration into the electronics sector could provide an entry into other sectors as well.
Phone House currently has over 80 stores, including 30 franchise, and 50 multi-operational ones. Its franchise stores have big names like Samsung and Huawei, which themselves have a significant user base. Partnership with Phone House, thus, also could help UTRUST crack deals with its giant clients.