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Today, we’re excited to announce support for Universal Euro (UPEUR), the second stablecoin to be listed on Uphold. UPEUR is issued by the Universal Protocol Alliance and aimed at Uphold members looking to keep their assets in Euros, and those looking for low volatility and a competitive annual rate of return.  

In countries with high inflation or limited access to traditional banking, users may be able to access a potential annual return on their Euro-pegged assets via the CredEarn* application on Uphold.

Launching first in Latin America, UPEUR provides a transparent and secure way for users to store their digital assets held on a 1:1 basis. UPEUR is the third digital asset from the Universal Protocol Alliance to be launched on Uphold this year. Along with UPUSD and UPBTC, UPEUR features the same level of commitment to code-quality, transparency, interoperability and investor safeguards.

Key features of the stablecoin will include:

  • Recoverability: Remembering a complex private key may be intimidating for the average bank account holder; UPEUR 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 UPEUR on the Uphold platform, they can initiate an exchange and request new minting of UPEUR. The new UPEUR is instantly minted on the Uphold reserve, and a record of this transaction is recorded on the Ethereum blockchain.

The Universal Euro is another example of crypto delivering on the promise of mass appeal.

How to buy UPEUR on Uphold:

Web App

  1. From your dashboard, click on “Add card/currency.”
  2. Name your card, select “UPEUR” as the currency, and click “create.”  
  3. Click “Add funds.”
  4. Select a funding option:
    1. U.S. bank account;
    2. Eurozone bank account;
    3. My Uphold funds;
    4. Crypto wallet.
  5. Follow the relevant instructions above.

Mobile App

  1. Tap the Menu and select “Buy”.
  2. On the next screen, select UPEUR.
  3. Choose a card if you have more than one.
  4. Select a funding option:
    1. U.S. bank account;
    2. Eurozone bank account;
    3. My Uphold funds;
    4. Crypto wallet.
  5. Follow the relevant instructions above.

 

At Uphold, we’re proud to support currencies that are truly innovative. We make buying, hodling, converting, and sending value between the 30+ digital and traditional currencies we support easy for anyone to understand and anyone to do.

 

 

 

 

*Uphold is not a lender, loan broker, or loan arranger and is not offering anyone advice or assistance in obtaining a loan. CredEarn is a third party product subject to additional terms and conditions. Only certain digital assets are eligible for CredEarn; Not available in all jurisdictions. Uphold does not guarantee any returns.