Universal Currency

There isn't THE Universal Currency but there is A "Universal Currency", which was created in 1997 in order to facilitate trade between existing business-to-business trade & barter systems ...

The Universal Currency Clearinghouse (UC) is a central clearinghouse for trade credit transactions among trade exchanges located throughout the world. UC is a "trade exchange for trade exhanges." www.ucci.biz UC set an all-time annual trading record in 2011 of 6.0 miilion dollars.

Universal Currency (UC) was created in 1997 by the IRTA and is wholly owned by IRTA. UC is a "zero-based" trading system, meaning that UC maintains a bad debt reserve account to off-set any unforseen defaults that may arise in the system. UC's bad debt reserve account is well-funded and therefore is positioned to assure the integrety of the system in the future. UC is a model for sound financial priciples in the barter industry and also is the oldest most successful inter-exchange clearinghouse in the industry.

The purpose of UC is to provide a reliable and efficient marketplace in which members can trade with each other and expand trading opportunities for their clients. UC provides each member trade exchange an opportunity to maximize their clients’ ability to sell into new markets and also expand their purchasing options with trade credits that are universally accepted.

Because trade exchanges use their own trade credit currency, IRTA sought to promote more efficient global trade by establishing a universally accepted trade credit among member exchanges - a true universal trade credit currency. As such, UC operates as a central accounting center for corporate barter companies and trade exchanges throughout the world. It allows member trade companies to expand their own members’ ability to sell into new markets and purchase goods and services that are not available within their own system, while eliminating the inconvenience and confusion of individual reciprocal accounting.

The UC provides members with the following benefits:

  • A UC Administrator, (IRTA's Executive Director, Ron Whitney), to oversee UC operations and a full-time broker, (Patty Weston), who both are dedicated to helping trade exchange members buy and/or sell to fellow UC members and assist members so as to increase UC trading.

  • An opportunity to forge new reciprocal relationships globally with reduced risk and the elimination of accounting hassles.

  • Strict and proper trading standards and credit policies that are monitored closely by member exchanges for maximum trade credit value protection.

  • UC uses the comprehensive trading platform called GETS (Global Exchange Trading System) enables members to shop, search and conduct all aspects of trade transactions on-line.