The digital exchange platform Uphold announced the expansion of its stable coin offering and the launch of a “Stablecoins Center” that is available to users in Latin American countries. This was reported to Cointelegraph on June 2 through a statement in Spanish.
The new stablecoins center offers access to six stablecoins within the Uphold platform. These are: Tether (USDT), TrueUSD (TUSD), USD Coin (USDC) and DAI, four of the most popular in terms of market volume. Uphold has also added coins to the Universal Protocol Alliance, such as UPUSD and UPEUR.
JP Thieriot, CEO of Uphold, commented:
“Today we believe that it is very important to be able to offer our customers the cheapest and most transparent way to manage their money. Stable currencies are less volatile than other cryptocurrencies. You are 1: 1 tied to safe currencies like the USD. And they are quickly adopted by central banks in different countries around the world. “
Regarding Latin America, JP Thieriot said:
“In many Latin American countries, the economies are changing a lot. The depreciation of local currencies – supported by governments with low credibility – and with a lot of inflation means that people’s purchasing power will deteriorate over the course of the day. Therefore, with the new Uphold Stablecoins Center, our goal is to provide users in Latin American countries with a new, simple and accessible tool to protect their finances. And available to everyone. “
The new stable coins complement the more than 50 existing coins on the Uphold platform – including cryptocurrencies, national currencies and precious metals.
Important points about the Stablecoins Center:
Accessibility – Allows users to access the most popular stablecoins by volume.
Connectivity: Credit can be topped up with debit / credit cards, bank accounts in around 40 countries and wallets in seven cryptocurrency networks
Financial stability: Stable currencies are designed to provide users with a “safe haven” linked to the value of the world’s major currencies.
Earn interest: All supported stable coins can earn up to 10% interest through “Cred Earn” (a third-party app).
However, it should be noted that the new Uphold Stablecoins Center is available to all users in Latin America, except for countries that are subject to special legal restrictions.
Uphold is a digital money exchange platform with more than two million customers worldwide. The Silicon Valley company generates around 7,000 new accounts every day. Using blockchain technology and thanks to Uphold’s “Anything to Anything” structure, users and customers can exchange between 27 national currencies, 30 crypto assets and four precious metals.
The platform offers financial accessibility and integration by allowing customers to open an account via a simple interface, complete the KYC-AML and exchange assets.
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