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Uphold, a cryptocurrency exchange platform, recently announced that they will be launching the world’s first cryptocurrency line-of-credit service. This will allow users to generate yields from digital assets such as Bitcoin [BTC] and Ethereum [ETH].

The platform also clarified that they will be adding more assets, citing XRP in particular. They also announced the upcoming launch of their mobile app while speaking about a giveaway worth $500,000 in UPUSD, a new stablecoin.

They stated:

“We’re soon launching both physical and virtual debit cards, and we’re going to turn this waiting list into a dynamic leaderboard rewarding early referral, community participation and transactional activity!”

The creation of the coin is a part of a collaboration between PricewaterhouseCoopers and Cred platform to audit a dollar pegged stablecoin. This is focused on cryptocurrency loans to be launched in November with interest rates of 2% to 5.5%. New alliance members are reportedly said to join, the most recent of which is Micheal Arrington.

Uphold will allow its users to generate a “substantial yield” or “secure a flexible credit line” against their cryptocurrency holdings. These are called Uphold Earn, with a yield of 2% – 5%, and Uphold Borrow with interest rates starting from 9%.

They can utilize Bitcoin or Ethereum for these purposes, providing a non-term cryptocurrency line of credit. Uphold also mentioned that users who register before the end of this month will get 1% off interest and 1% higher yields on deposits.


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Anirudh VK


Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.


(Excerpt) Read more Here | 2018-10-10 20:30:25

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