Portuguese financial startup firm Utrust has teamed up with the Elrond Network in a bid to boost cryptocurrency payments and the Web3 technology.
EGLD is up 7.21%, while UTK is up 1.20%.
The companies said the agreement is “not just a partnership” but a “real union” which seeks to push crypto payments as its original mission and vision. The partnership will involve the merger of teams of the two firms.
The partnership also seeks to boost Utrust’s technical capabilities and to make faster and better deliveries. Utrust is set to gain resources that it said were not within its reach previously.
The announcement said it will take over European crypto payments in the next two years and will expand further to American and Asian markets moving forward. Stronger token utilities and economics are set to be deployed in the coming months.
Utrust said both parties will start working together “immediately,” with a comprehensive roadmap to be unveiled to the public shortly.