We are honoured to announce our second collaboration with a leading merchant — global technology and communications retailer, Phone House Portugal.
UTRUST strategy has been to select the best partnerships to continually grow the crypto space for everyone while optimizing our platform. We strongly believe that to bring global adoption, UTRUST has to encourage businesses with robust customer bases and high sales volume to begin using crypto. That’s why we developed our platform in the first place, to make it easy for everyone to onboard virtual assets.
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 a particularly important partner for UTRUST because of its strong sales and global development plans. Mirroring that, crypto payments at Phone House will first be enabled for orders shipping to Portugal and expand to more countries later in 2019 and early 2020. We see this as a perfect opportunity to grow the global crypto ecosystem by adding value through virtual asset payments. This partnership with Phone House is another step towards making crypto as easy as it should be around the world.
Things are moving quickly as UTRUST brings new supporters, merchants, and customers into the ecosystem. UTRUST has been working to put our best foot forward by connecting with selected industry leaders. This means finding businesses that are aligned with UTRUST’s goals and values. Our first partnership with the football club S.L. Benfica turned out to be a huge success, and we’re excited to bring Phone House into the UTRUST family.
The consumer electronics sector has a significant presence in Europe, receiving close to €56million in revenue in 2018 and projected to show an annual growth rate of 7.1% before 2023. UTRUST now provides a secure method for consumers purchasing from Phone House online using cryptocurrencies by guaranteeing buyer protection to these customers. The option to pay with cryptocurrency on the Phone House website will initially roll out in Portugal, with other countries to be added in the coming months.
With over 80 multi-operational stores including 30 franchises, six Samsung stores and one Huawei store, Phone House Portugal maintains a market-leading position throughout the mainland and islands of Portugal.