Abreu advises Utrust entry in the real estate for cryptocurrency market
Abreu Advogados has advised Utrust – a Portugal-based fintech company, that intends to revolutionise cryptocurrency payments, by allowing merchants to accept “payments” in cryptocurrencies in a swift manner and with conversion to fiat – in expanding its services to the Portuguese real estate market.
Known as the ‘Paypal of blockchain’, Utrust is launching an innovative cryptocurrency payment solution for real estate transactions with legal support from Abreu Advogados. With Utrust’s solution, real estate sellers/buyers will be able to receive and settle payments in crypto-assets instantly, locking their value and thus removing market volatility associated with cryptocurrencies.
Abreu Advogados’s scope of work included, among others, addressing the legal and tax framework applicable to real estate-for-crypto exchange agreements, including applicable anti-money laundering and terrorism financing procedures, as well as the legal and contractual framework of Utrust’s role as an intermediary in these transactions.
Abreu Advogados’ team was headed by (pictured from left to right): partner Rodrigo Formigal and composed of associate lawyer João Carlos Gusmão and trainee lawyer João Soares Carvalho, all from the Finance practice area.