CA-UPHOLD
8.3.2019 15:02:26 CET | Business Wire | Press release
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
Netmore Named Smart Company of the Year at the Premios iAgua 20261.10.2026 19:00:00 CEST | Press release
Netmore recognized for commitment to Spanish water market backed by locally developed products, proven smart metering expertise, and deep local market knowledge Netmore Group, the leading network operator and platform provider for Massive IoT, today announced it has been named Empresa Smart del Año — Smart Company of the Year — at the Premios iAgua 2026, the awards of iAgua, the Spanish-speaking water sector's leading media platform. The award was presented at the closing gala of the Spain Smart Water Summit, held at the Meliá Avenida América in Madrid. The award recognises a company that has taken an unusual route into water. Netmore is not a technology firm that added connectivity to its portfolio: it is a network operator that decided to specialise in the water cycle. In eighteen months, it has completed four acquisitions and become the world's largest LoRaWAN® network operator, with more than eighteen million IoT devices under contract across more than fifty countries. Its commitme
Elliptic Sets the Engineering Bar for On-Chain Risk With “Built for Compliance” Paper as New Rules Take Hold and Banks Launch a Joint Stablecoin1.10.2026 15:40:00 CEST | Press release
Built for compliance arrives as crypto compliance rules tighten worldwide and a bank-led stablecoin enters the market Elliptic, the global leader in on-chain risk management, today published Built for compliance, a paper setting out the nine engineering decisions that determine whether an on-chain risk system can support fast, accurate and defensible compliance decisions at agentic scale. Machines are already moving money on their own, at machine speed. Compliance teams now have to make hundreds of thousands of decisions a day, at that same speed. However, many on-chain risk systems were never engineered to support that pace. A compliance system that computes exposure on a schedule delivers stale results. One that defines blockchain coverage loosely enough lets a screening miss exposure entirely. A system that skips testing disaster recovery, a spike or an outage, takes down the customer’s compliance system too. That gap between machine speed and system design is exactly what regulator
Impartner Releases AI Ecosystem Playbook to Help Organizations Move from AI Experimentation to Execution1.10.2026 15:00:00 CEST | Press release
The AI Ecosystem Playbook provides a practical framework for assessing AI readiness, identifying high-value opportunities, addressing foundational gaps, and building a roadmap for AI adoption. Impartner, the world’s leading partner revenue orchestration platform, today announced the release of its AI Ecosystem Playbook, a new resource designed to help leaders and teams assess their current AI capabilities, identify areas where AI can support business goals, and develop a practical path to implementation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261001661549/en/ Impartner’s AI Ecosystem Playbook helps organizations assess AI readiness and identify opportunities to apply AI across PRM 3.0, partner revenue orchestration, and the partner lifecycle. As AI moves from experimentation into everyday operations, companies need more than a collection of potential applications. They need a framework for understanding where they ar
Whiteford Adds Six Partners in New York City, Expanding its Litigation, International and Corporate Practices1.10.2026 15:00:00 CEST | Press release
Lateral group joins growing Midtown Manhattan office as firm pursues targeted expansion strategy Whiteford, Taylor & Preston, a full-service law firm with offices across the East Coast, today announced that six partners from Chambers-rated Lazare Potter Glazer & Moyle LLP have joined Whiteford’s New York office: David E. Potter, James F. Moyle, Johannes K. Gäbel, Jaipat Singh Jain, Anna Pia D. Felix and Jacob Englander. This team expands Whiteford's New York office to more than two dozen attorneys and deepens the firm's commercial and securities litigation, employment, cross-border and corporate capabilities in the New York market. The six partners bring decades of combined experience representing mid-market companies, investment advisers, hedge funds, foreign corporations, entrepreneurs and executives in litigation, regulatory investigations, and complex business transactions. "We are expanding with our clients, our markets and our reputation," said Martin Fletcher, Whiteford's Managi
Skechers Enters Super Shoe Era With Innovative Skechers AERO Elite1.10.2026 14:20:00 CEST | Press release
Groundbreaking Design Gives Elite Runners the Performance to Break Barriers and Records in Any Race Skechers is redefining what it means to run fast with the Skechers AERO Elite. The latest addition to the innovative Skechers AERO Series makes its global racing debut today—marking a landmark moment as the performance brand’s first super shoe. Engineered to perform from 5Ks to marathons, the design minimizes weight and maximizes responsiveness, all while delivering Skechers’ signature comfort. The AERO Elite is built to win with the performance runners at any level need to go further, faster, and achieve that next personal record. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261001865320/en/ Introducing the Skechers AERO Elite, the brand’s first super shoe designed for racing. “The Skechers AERO Elite is the culmination of years of elite-level running innovation—our most technically advanced running shoe to date and a direc
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