Blockchain Alliance Launches New Euro Backed Stablecoin
- UPEUR holders can earn interest of up to 8% via Uphold’s Cred Earn application, just like a regular savings account.
Universal Protocol Platform (UPP), a consortium of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term companies that aims to make all Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term accessible on a single network, is launching a new Euro-backed stablecoin, UPEUR. Similar to Tether, UPEUR is fiat-collateralized with each stablecoin unit is backed by a corresponding unit of Euro.
The coin will be available for immediate use on UPP’s participating exchanges including Bittrex International, Brave, Cred, and Bitgo. The company also promises to sign leading crypto custodians and device providers, such as BitGo and Ledger, to support its stablecoin.
More interestingly, the UP platform will enable users to lend their UPEUR holdings and earn interest of up to eight percent via Uphold’s Cred Earn application, just like a regular savings account.
Created to satisfy euro-biased crypto enthusiasts, UPP believes that the new token can provide protection during periods of extreme volatility in the market while improving the risk and return metrics of crypto-investment portfolios.
Stablecoins continue to pop up
With all the controversy and mistrust surrounding Tether (USDT), it’s no surprise that a multitude of new alternatives has popped up recently. Just yesterday, CEO of popular exchange OKEx said his company is backing a new cryptocurrency that could be pegged to the U.S. dollar, in a partnership with SEC-regulated custodian Prime Trust.
Commenting on the news, Dan Schatt, co-founder of the Universal Protocol Alliance and Cred, said: “The Universal Euro offers access to a high rate of return and the same commitment to code quality, investor safeguards and transparency. UPEUR is architected with institutional-level security in mind and designed to allow for quick, low-cost conversion of UPEUR to fiat currencies, UPUSD, UPBTC or other digital assets. We’re thrilled to make this stablecoin available in the near future.”
JP Thieriot, CEO of Uphold, added: “The Universal Euro is part of a family of tokenized digital assets we have introduced that will facilitate the instant and seamless conversion of different forms of value. In doing so, the UP Platform will unlock the vast and untapped full potential of blockchain to transform how individuals and businesses store and transfer value, with Universal Tokens representing the next generation of digital money.”
Universal Protocol Platform (UPP), a consortium of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term companies that aims to make all Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term accessible on a single network, is launching a new Euro-backed stablecoin, UPEUR. Similar to Tether, UPEUR is fiat-collateralized with each stablecoin unit is backed by a corresponding unit of Euro.
The coin will be available for immediate use on UPP’s participating exchanges including Bittrex International, Brave, Cred, and Bitgo. The company also promises to sign leading crypto custodians and device providers, such as BitGo and Ledger, to support its stablecoin.
More interestingly, the UP platform will enable users to lend their UPEUR holdings and earn interest of up to eight percent via Uphold’s Cred Earn application, just like a regular savings account.
Created to satisfy euro-biased crypto enthusiasts, UPP believes that the new token can provide protection during periods of extreme volatility in the market while improving the risk and return metrics of crypto-investment portfolios.
Stablecoins continue to pop up
With all the controversy and mistrust surrounding Tether (USDT), it’s no surprise that a multitude of new alternatives has popped up recently. Just yesterday, CEO of popular exchange OKEx said his company is backing a new cryptocurrency that could be pegged to the U.S. dollar, in a partnership with SEC-regulated custodian Prime Trust.
Commenting on the news, Dan Schatt, co-founder of the Universal Protocol Alliance and Cred, said: “The Universal Euro offers access to a high rate of return and the same commitment to code quality, investor safeguards and transparency. UPEUR is architected with institutional-level security in mind and designed to allow for quick, low-cost conversion of UPEUR to fiat currencies, UPUSD, UPBTC or other digital assets. We’re thrilled to make this stablecoin available in the near future.”
JP Thieriot, CEO of Uphold, added: “The Universal Euro is part of a family of tokenized digital assets we have introduced that will facilitate the instant and seamless conversion of different forms of value. In doing so, the UP Platform will unlock the vast and untapped full potential of blockchain to transform how individuals and businesses store and transfer value, with Universal Tokens representing the next generation of digital money.”