Upcoming ICO: Payments Technology ICOs Set to Sizzle

Technology investor Catherine Wood recently made the case for bitcoin and similar cryptocurrencies whose adoption will lead to free money transfers on a global scale, as reported by CNBC. According to Wood, whose firm ARK Invests targets disruptive technologies, the blockchain, unlike the internet, eliminates much of the friction in the processing of payments, which solves a huge problem for the industry, something that leading payments technology Ripple has proven. Perhaps that’s why an increasing number of blockchain-driven payments startups are behind upcoming ICOs.

In fact, at least one-fifth of money transfers that occur between the Philippines and South Korea involve bitcoin, whether or not the payor and payee know it, according to Wood. They wouldn’t complain, as conversion fees between cryptocurrencies and fiat currencies is between 2% and 3% compared to as much as 8% for more traditional money transfer companies. This is fueling the debut of payments technology startups, which are also behind upcoming ICOs.

Upcoming ICOs in the Payments Industry

The Utrust ICO, which iNVEZZ.com reported on previously, is one of those startups, boasting a bitcoin and cryptocurrency payments platform with user protections. Switzerland-based Utrust has since raised USD 3.5 million in its ICO pre-sale, and the public sale is now scheduled for Nov. 2. Utrust’s chief technology officer Artur Goulão Ferreira is the former CTO of Portugal-based payments company Easypay.

Meanwhile CopPay is behind a decentralized multi-cryptocurrency payments platform for consumers and merchants. The startup’s virtual terminals facilitate cross-border payments and give businesses the ability to exchange cryptocurrency for fiat currency in real time with no transaction fees attached, as per the white paper. Consumers can pay for goods and services using cryptocurrencies.  The CopPay ICO of the COP utility token is scheduled for Oct. 30.

Other upcoming ICOs tied to the payments industry include STK and Crypterium, while more still have token sales currently unfolding. One thing appars clear, the payments industry is one that is conducive to the blockchain and investors alike.  

For information on how to buy and trade Ripple, see our complete guide here.