Uphold Meets Demand for the Digital Dollar by Adding Tether, TrueUSD, USD Coin and DAI
- New Stablecoin Center offers easy and cost-effective access to six stablecoins
- Tether (USDT), TrueUSD (TUSD), USD Coin (USDC), and DAI (DAI) join UPUSD
- Universal Euro, (UPEUR), features transparent value substantiation like UPUSD
- All stablecoins can earn interest*, and be spent on the new Uphold Debit Card
SAN FRANCISCO–(BUSINESS WIRE)–Uphold, a leading digital money platform that has powered more than $6 billion in transactions across 180 countries, today expands its stablecoin offering and launches a Stablecoin Center, to answer the call from users for wider digital dollar offering.
“The demand for stablecoins is a proxy for the deficiencies of the traditional banking sector,” said Uphold CEO, JP Thieriot. “While the advances of fintech and crypto continue a long, hard slog through the regulatory labyrinth, stablecoins serve as a sort of conduit and translation layer, particularly relevant to this stage in the evolution of the sector.’
Uphold now supports six stablecoins, including four of the most popular by market volume, Tether (USDT), TrueUSD (TUSD), USD Coin (USDC), and DAI (DAI). The Stablecoin Centre also offers UPUSD and UPEUR, the transparently substantiated coins from the Universal Protocol Alliance.
The newly-listed stablecoins join 50+ currencies and commodities – including cryptos, national currencies, and precious metals – and enjoy zero trading commissions.
“We’re happy to offer Uphold customers the most competitive interest rates available on stablecoins,” said Dan Schatt, CEO of Cred. “We’re excited to see this segment of the crypto-asset market maturing.”
Key features of the Uphold Stablecoin Center:
- Accessibility: Provides consumers with easy and cost-effective access to USD and Euro exposure via the most popular stablecoins by volume.
- Connectivity: funds can be easily on/offboarded via debit/credit cards, bank accounts in more than 40 countries, and wallets on seven crypto networks.
- Financial stability: stablecoins are designed to provide consumers with relative ‘safe harbor,’ pegged to the value of the world’s most important currencies.
- Earn Interest: All supported stablecoins are eligible to earn up to 10% interest via Cred Earn, a third-party app*
“The Stablecoin Center was a natural progression for Uphold. It is more important than ever to provide our customers with the most economical and transparent methods for managing their money,” said Uphold CEO JP Thieriot. “Stablecoins are inherently less volatile than cryptos being pegged 1:1 to safe-haven currencies like USD and are quickly being adopted by central banks around the world.”
* Stablecoins can earn interest through Cred LLC, a third-party app.
Stablecoins may not be available in all jurisdictions.
A digital money platform serving more than 2 million customers. Uphold has powered more than $6 billion in transactions. The Silicon Valley firm attracts up to 7,000 new accounts a day. Leveraging blockchain technology, the platform provides consumers and businesses with easy access to 27 national currencies, 30 digital currencies, six stablecoins, and four precious metals. Its unique ‘Anything-to-Anything’ architecture allows customers to trade directly between different asset classes: physical gold to bitcoin is one trade, for example. Uphold supports financial inclusion by enabling customers virtually anywhere to open an account in 3-5 minutes, and buy various assets and send funds worldwide. Consumers can trade with zero commissions, or send funds free of charge, including payments to suppliers and employees. Accounts can be funded via seven crypto networks, bank connections in 40+ countries, and debit and credit cards. Uphold is available through web, iOS and Android applications. For more information, visit https://uphold.com/. Not licensed in all jurisdictions.
Michelle O’Connor, Uphold