Uphold chose Universal Gold (UPXAU). For this reason, Cointelegraph en Español spoke to Juan Pablo Thieriot, CEO of the company currently located in the Eastern Republic of Uruguay.
Fernando Quirós: What is Universal Gold (UPXAU)?
JP Thieriot (JPT): Universal Gold is a unique Gold ERC-20 token issued by the Universal Protocol Alliance, backed by the government with no escrow fees, and leveraging the efficiency and transparency of the blockchain. Each UPXAU token represents 1 troy ounce (31.10348 grams) of pure physical gold that is stored in the Perth Mint, Western Australia.
UPXAU is specifically designed to be the world’s most accessible, flexible, reliable and transparent gold investment product. The Universal Protocol Alliance uses the technology of transparent bases of value and has created a sign that opens and expands the gold market to a much broader constituency. For the first time, virtually anyone, anywhere, can easily invest in gold and spend their holdings like cash with a debit card.
QQ: Gold has seen its price soar in the past few days. Would you say that UPXAU has advantages over physical gold? Which?
JPT: There have been numerous attempts to create a digitized gold solution that is distinguished by its superiority. Gold is expensive to store and trade, and is usually subject to minimal investment that is not available to many people. So far it had not reached a product.
Universal Gold (UPXAU) eliminates all of the traditional disadvantages of investing in this asset. It has no storage, administration and custody costs, is exchangeable for physical gold, has immediate liquidity, has a government-backed guarantee and finally digital portability and self-custody (Ethereum private wallet or offline storage devices).
UPXAU is specifically designed to be affordable and easy to trade. Virtually anyone from anywhere can quickly and profitably invest in gold while taking advantage of physical gold.
QQ Why did Uphold choose UPXAU?
JPT: The Universal Gold project was in preparation for some time. One of Uphold’s largest investors is a passionate gold bettor who has been searching the world for an optimal solution for decades.
Gold is expensive to own and trade. Also, it is not easily accessible to many people around the world. When we brought the solution we developed together with The Perth Mint and Infinigold to the UP Alliance a few months ago, we were thrilled to bring the product to the world market. We strongly believe that UPXAU is the most accessible and profitable way to invest in gold for people everywhere.
QQ: Is it good to diversify investing in crypto assets?
JPT: Diversification is an important aspect in the investment space. This is all the more true as we are at a time when regional economies are declining significantly and affecting markets in different ways.
Crypto assets are presented as an extremely attractive product, although in their great variety they are sometimes more volatile than others over time. This is where diversification becomes important to cushion large fluctuations that can negatively affect your investment.
QQ: How do you see the market in Latin America?
JPT: We are strongly committed to developing and introducing new products and services for the Latin American market. Given the widespread acceptance and positive feedback from our users, we are optimistic that we will adopt new technologies to further democratize access to various assets and create a level playing field in the investment sector.
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