New Coin Listing: Universal Protocol (UPUSD)
We are excited to announce the listing of Universal Protocol (UPUSD) for Bittrex Global customers! Wallets are enabled for deposits and withdrawals. The BTC-UPUSD market is now open for trading.
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A better set of stablecoins
UPEUR and UPUSD are fully transparent and collateralized 1-to-1 with U.S. dollars and Euros, held at European and U.S. domiciled, FDIC-insured banks, pays an annual rate of interest of between 2 and 5 percent through Cred, a California licensed lender, that also enables holders to access flexible loans with single-digit rates of interest. The stablecoin is underpinned by reserve management technology developed by Uphold, the world’s most transparent digital money platform, which has handled over $5 billion of transactions and publishes its assets and liabilities in real-time. Users will be able to audit the reserve through a transparency page, the first of its kind, that can reflect the substantiation of underlying assets at any given time.
The UPUSD and UPEUR introduces many of the user safeguards and benefits expected of conventional financial assets, including:
- Safety: fully reserved, built-in loss recovery and optional custody of private keys.
- Inheritability: users may nominate a beneficiary who can “call” the asset on account dormancy.
- Reduced exchange risk: thanks to a “detachable” wallet that permits “self custody” at exchanges.
- Yield: can earn up to five per cent annually on the value of digital holdings.
- Credit: flexible borrowing on competitive terms, secured by the value of digital assets.
A powerful utility token
UPT is the mega-utility token for the Universal Protocol Platform, and each member of the Alliance continues to integrate UPT in a variety of ways:
- Uphold -Holders of UPT will receive additional cryptocurrency back with the launch of the Uphold debit card (up to an additional 1%). Founded in 2014, Uphold has over 2 million users around the world and has traded over $5.4 billion on its digital money platform and reserve ledger.
- Cred -Holders of UPT earn interest on UPT, the Universal Dollar(UPUSD) and the Universal Euro (UPEUR). Cred merchants and city officials can settle transactions real-time with Universal Tokens. Founded by a group of former PayPal executives, Cred’s leading banking platform enables customers in over 190 countries to earn interest on their assets.
- Bittrex Global -Holders and transactors of UPT and all UP Tokens on Bittrex Global will receive a 50% reduction in trading fees.
- Blockchain at Berkeley -Holders of UPT and any UP Token can purchase goods, services and tickets for blockchain events at reduced prices. Blockchain at Berkeley is an academic organization at the University of California, Berkeley, that provides educational resources, consultancy, and R&D to some of the biggest blockchain projects in the world.
- CertiK -Holders of UPT and any UP Token will benefit from reduced code auditing fees when payment is made with UP tokens. CertiK is a pioneer in blockchain security and auditing with over $5B in assets secured, founded by Yale Department Chair of Computer Science Zhong Shao and Columbia University Assistant Professor Ronghui Gu.
A unique platform
The UP Platform allows for an incredible array of new digital assets and services that don’t exist yet in the world of blockchain. Not only will this allow new types of financial products to be be created, but it will also allow for unprecedented features like:
- Recoverability of your Private Key
- Inheritability of your digital assets
- Earning interest on your stored assets
- Versatility in trading
- Democratized access to global credit
Currently, digital assets like Bitcoin and Ethereum exist on separate blockchain platforms and cannot interact with one another. This results in significant inefficiencies as separate blockchain projects are unable to collaborate in any meaningful way, without complex and often costly work-around solutions. To date, this has greatly hindered innovation in blockchain and the realisation of its vast potential to fundamentally disrupt a wide array of economic, social and industrial sectors. Universal Protocol looks to solve this issue and allow all cryptocurrencies to become accessible on a single network through its various stablecoins and tokens.
Head over to the exchange now to begin trading and interacting with the UP stablecoins. You can get access to unique discounts on Uphold and Cred, and gain access to global credit through unique programs.
Congratulations to the Universal Potocol community and welcome to Bittrex Global! More information can be found on the Universal Protocol Website.