Cuatrecasas Portugal advises on sale of crypto payment company

Cuatrecasas Portugal has advised on the sale of a crypto payment company, Utrust, to Elrond Network

pjimage 2022 03 08T132304.916Cuatrecasas Portugal has advised on the sale of Utrust, a fintech pioneer in Portugal in cryptocurrency payment services, to Elrond Network, a Romanian company that developed its own blockchain to support Decentralised protocols Finance for faster and cheaper transactions.

This operation aims to achieve two goals: to make payments between companies faster, cheaper and safer, using blockchain technology; and converting payment processing services, which are now a cost to merchants, into an alternative source of income, in what the Elrond Network dubs “merchant yield”.

The Cuatrecasas team that advised the founders and shareholders of Utrust was coordinated by partner Vasco Bivar de Azevedo (pictured right, from the Corporate and M&A area, and included associates Nuno Lima da Luz (pictured left) (TMT), Tânia Alves (Corporate and M&A), Cátia Andrade (Tax) and Liliana Almeida de Moura (Labour).

Michael Heron