Working towards digital payments startup Uphold announced the launch of new products to sales and earnings together with cryptocurrency platform Cred.
Products will be called Uphold Uphold Earn and Borrow. The first service will allow customers to receive interest income from the provision of funds in stalking Universal Dollar to others. Universal Dollar — private stablein company Uphold, which it announced in early October. Stablein provided the dollar at a ratio of 1:1. According to the company, dollar reserves are insured by the Federal Corporation for Deposit insurance. Users of the service Uphold Earn enough to simply translate their dollar-denominated assets in stablein and store them on the company’s platform to receive 5% of revenue.
Service Uphold Borrow on the contrary allows clients to borrow money from the funds held by the company. The minimum loan amount is $1,000 and the maximum could exceed $200 000.
According to co-founder and head Uphold and JP of Thieriot (JP Thieriot), the new products bring together Fiat, stabilini and blockchain on the mass consumer market.
“Traditionally, the average consumer is wary of digital currencies for two reasons: because of the high volatility and the fear of losing all the money in case you lose access to your wallet. Universal Dollar helps to solve both of these problems,” he added, Thieriot.
Under the decision of problems of loss of head Uphold is likely to mean that private keys from the wallets of users can be stored as part of their accounts on the platform.
Recall that in may, Uphold conducted the integration XRP ledger, and thus became the first mobile app that made the tokens XRP public in the United States.