So is UTRUST trying to act like a decentralized PayPal?
From what I understand, more or less. They aim to be one of the first decentralized payment processors that allow conversions of most cryptos. Their niche is in their buyer protection which seems unmatched by the competition at the moment. I'm excited to see how their ICO goes

Ok but is it then more like a Coinbase but with more cryptocurrencies or are they offering some sort of decentralized solution?
I would say paypal is a better comparison. As a merchant you can sell your products, accepting major cryptos through this platform while having the received coins be
immediatly converted into your fiat of choice (ie. ETH to USD). This not only saves you the hassle of conversion yourself but protects against market volatility. The merchant can then convert their money into other cryptos, cash out, or keep it in their wallet on the platform. As a buyer this platform would potentially save you the hassle & time of any conversions, as well as providing you protection on your purchases! Bought a boat online with BTC, that surprisingly never got delivered? With UTRUST you're protected!
UTRUST extends consumer protection by covering both physical and virtual (if applicable) purchases. We will guarantee full coverage of all eligible payments made via UTRUST.
https://utrust.io/how-it-works#customer-payment-protectionhttps://utrust.io/how-it-works#safety-of-funds