CA-UPHOLD
Today, Uphold announced support of a revolutionary stablecoin that aims to propel cryptocurrency into the mainstream. The stablecoin, known as the Universal Dollar (UPUSD), is issued by Universal Protocol Pte. Ltd. and will initially be available on the Uphold platform.
UPUSD is the first stablecoin to be listed on Uphold, the digital money platform, and is pegged on a 1:1 ratio to the U.S. dollar. It is also the first stablecoin of its kind to be minted on-chain with every verifying transaction written to the Ethereum public blockchain so that all users can see and verify UPUSD is 100% percent backed with U.S. dollars. U.S. dollars are held at banks located in the United States with the intention of being eligible for FDIC “pass-through” deposit insurance, subject to applicable limitations.
Launching first in Latin America, this stablecoin behaves like a mature financial asset with it being fully transparent and inheritable. Additionally, eligible holders of UPUSD outside the US may be able to access a potential annual return through Cred’s CredEarn product, an application available on the Uphold platform.
“The Universal Dollar shows that crypto is finally delivering on the promise of mass appeal,” said JP Thieriot, CEO of Uphold. “Especially relevant in developing economies, the protections, interoperability and financial services offers a number of benefits to Uphold members.”
Key features of the stablecoin include:
- Recoverability : Remembering a complex private key may be intimidating for the average bank account holder; UPUSD users can recover their private key and reclaim assets if needed
- Inheritability: Users can nominate beneficiaries who may 'call' the assets after prolonged account dormancy. The exact period of dormancy and the address will be configured during wallet instantiation
- Full transparency : Every time a user purchases USD on the Uphold platform, they can initiate an exchange and request new minting of UPUSD. The new UPUSD is instantly minted on the Uphold reserve, and a record of this transaction is recorded on the Ethereum blockchain.
This stablecoin is the first in a series of tokens and stablecoins released through the Universal Protocol Alliance, a coalition of some of the industry’s finest, including Bittrex, Brave, Cred, CertiK, Blockchain at Berkeley, along with Uphold. This coalition demonstrates a desire to further the ecosystem, driving mainstream adoption while also building trust and creating a sense of legitimacy. It is a shared goal, that would not be possible by working alone.
###
About Uphold:
Uphold is a digital money platform providing consumers worldwide with convenient and secure access to traditional currencies, cryptocurrencies, and other investments. Uphold has powered more than $4 billion in transactions across 184 countries, covering over 30 supported currencies and four commodities. The platform has more than 1 million users. Uphold is the only financial platform to publish its reserve holdings in real time. The company has offices in San Francisco, New York, Portugal, London and Mexico City. More information can be found at www.uphold.com , or follow us on Twitter , Facebook , and LinkedIn . Not licensed in all jurisdictions.
Note: CredEarn is a loan arrangement, not a deposit relationship. Interest accrues on amounts actually borrowed by Cred, and is calculated on a simple interest basis based on the number of days and amount of the assets borrowed. Not all customers will be able to participate and not all funds may be borrowed. The CredEarn Program is offered solely by CRED LLC to non-U.S. Persons who affirmatively opt in to the service. Additional terms and conditions will apply. CredEarn loans have not been registered by CRED LLC under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190308005263/en/
Contact:
UK press contact: Tom Ingoldby tom.ingoldby@dynamopr.com US press contact: Michelle O'Connor michelle.oconnor@uphold.com
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Combined Shareholders’ Meeting of June 19, 2025: All Submitted Resolutions Were Adopted20.6.2025 07:00:00 CEST | Press release
The Combined Shareholders’ Meeting of Bureau Veritas (the "Company"), chaired by Mr. Laurent Mignon, Chairman of the Board of directors, was held today at the Company’s head office. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250619834393/en/ Hinda Gharbi, CEO Bureau Veritas All resolutions submitted to the Shareholders’ Meeting were adopted at a large majority, including: The approval of the statutory and consolidated financial statements for the financial year ending on December 31, 2024, and the approval of a dividend distribution of €0.90 per share to be paid in cash on July 3, 2025 (ex-date on July 1, 2025) on positions closed on July 2, 2025; The approval of a related-party agreement concerning the Company’s participation in Wendel’s share placement (acquisition by the Company of its own shares); The approval of the report on Corporate Officers’ compensation; The approval of fixed, variable and extraordinary compone
Hanshow Showcases Retail Media and Store Intelligence at 2025 CGF Global Summit19.6.2025 17:00:00 CEST | Press release
Hanshow, a global leader in digital retail solutions, underscored its leadership in AI, IoT, and Retail Media at the 2025 Global Summit of the Consumer Good Forum (CGF), held from June 11 to 13 at RAI Amsterdam. From an immersive ‘Future Store’ showcase in the I-Zone to moderating one of the Summit’s most anticipated panel discussions, Hanshow demonstrated how its integrated platform is driving the next wave of store transformation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250619798164/en/ Inside the Future Store: Hanshow’s Real-Time Innovation at I-Zone At Booth No.8 in the I-Zone, Hanshow presented an interactive showcase themed “Powering Your Future Store,” highlighting four core pillars of the future store: real-time pricing and shelf operations powered by ESLs; smart carts that enhance the shopping experience with autonomous navigation and seamless checkout; GenAI-enabled journeys offering contextual promotions an
Grid Dynamics to Unveil Robotic Inspection Solution at Automatica 202519.6.2025 15:15:00 CEST | Press release
Key Takeaways: At Automatica 2025, Grid Dynamics will present TPGen—an AI robotic solution developed in partnership with Wandelbots to automate industrial robotic workflows that involve complex programming. The new solution dramatically reduces programming time—transforming what typically takes weeks of manual robot programming and analysis into automated processes completed in minutes through automatic tool-path generation based on CAD models. TPGen is built on top of the Wandelbots NOVA platform which enables seamless integration with a broad range of robotic manipulators. Grid Dynamics Holdings, Inc. (Nasdaq: GDYN) (Grid Dynamics)—a leading provider of technology consulting, platform and product engineering, AI, and digital‑engagement services—today announced it will showcase its TPGen robotic solution at Automatica 2025, the world's leading event for smart automation and robotics taking place in Munich, Germany from June 24-27, 2025. The TPGen solution from Grid Dynamics, developed
Experian Accelerates Migration to AWS to Drive Innovation with Generative AI19.6.2025 15:00:00 CEST | Press release
Global data and technology leader expands its cloud footprint to enhance performance and reliability, using AWS analytics and AI capabilities to give financial organizations access to real-time intelligence Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), today announced that Experian, a global data and technology company, is embarking on the next phase of its cloud migration and has selected AWS as its preferred cloud. By leveraging AWS’s advanced cloud capabilities, Experian can provide faster, more scalable solutions that empower clients with deeper insights and more secure data services. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250619029263/en/ Experian's cloud first strategy, in partnership with AWS, accelerates innovation by enhancing performance, scalability, and reliability, while enabling the company to better serve its clients with innovative products and solutions. By migrating of
Greenland Resources Receives 30-Year Exploitation License for Molybdenum and Magnesium19.6.2025 14:52:00 CEST | Press release
Greenland Resources Inc. (Cboe CA: MOLY | FSE: M0LY) and its fully owned Greenlandic subsidiary Greenland Resources A/S (“Greenland Resources” or the “Company”) is pleased to announce that today the Greenland’s Minister for Business, Mineral Resources, Energy, Justice and Gender Equality, Naaja H. Nathanielsen, together with Dr. Ruben Shiffman, Chairman of the Board of Directors of Greenland Resources, signed a 30-year exploitation permit for molybdenum and magnesium for the Company’s Malmbjerg project in east Greenland (now defined as the Piiaaffik Høstakken). The Company can apply to extend the licence period up to 50-years. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250619915614/en/ Naalakkersuisut's Minister for Business, Mineral Resources, Energy, Justice and Gender Equality, Naaja H. Nathanielsen, stated at the handover ceremony: "It is with great satisfaction that the Greenland Government can grant another exploit
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom