Uphold, a leading digital money platform that has powered more than $6 billion in transactions across 180 countries, expands its stablecoin offering and launches a Stablecoin Center, to answer the call from users for wider digital dollar offering.
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“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.”
“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.”
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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.”
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