According to the official press release, this development makes Utorg the first non-custodial crypto wallet to offer this capability. The update enables users within the Solana network to use their USDC for transactions at any location that accepts Visa and Mastercard. This functionality integrates digital assets with everyday purchases, offering a seamless and secure way to spend cryptocurrency.
Utorg Hÿper App supports over 200 cryptocurrencies and 12 blockchains, allowing users to buy digital assets through more than 30 payment methods, including Apple Pay and Google Pay. The app features the Utorg Card for real-world crypto spending and the Earn! trading tool for optimising crypto investments.
According to Utorg, the company is licenced to offer virtual currency services, including exchanging virtual currency against fiat currency and other virtual currencies, as well as providing virtual currency wallet services. UAB 'Utrg' has achieved PCI DSS Level 2 certification.
Moreover, according to the same source, the management team has extensive experience in distributed ledger technologies, smart contracts, cybersecurity, finance, banking, credit card processing, the cryptocurrency market, and e-commerce services.
To enhance transaction security, Utorg has adopted MasterCard SecureCode and Visa Secure (previously Verified by Visa) 3-D Secure standards. This involves an authentication step where customers enter a personal code registered with their bank during checkout. The bank then verifies the cardholder and confirms the purchase with Utorg. This system aims to comply with global security standards, reduce fraud, and improve card acceptance rates.
The PCI DSS is a set of policies designed to secure credit, debit, and cash card transactions and protect cardholder information from misuse. Compliance requires meeting six major objectives, 12 key requirements, 78 base requirements, and over 400 test procedures, along with regular external audits.
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