Uphold Earn and Uphold Borrow

Uphold will offer eligible customers a U.S. Dollar Stablecoin (Universal Dollar), a fully-transparent, digital asset that is backed 1-to-1 with U.S. dollars to be held at U.S. domiciled, FDIC-insured banks. Those customers who purchase the Universal Dollar can opt-in to Uphold Earn, which functions much like a traditional banking product, and can receive attractive and competitive rates, currently as high as five percent.

Uphold Borrow draws on Cred’s quarter-billion-US dollar credit facility, offering low-interest rate, revolving lines of credit. Qualifying consumers can borrow against their digital assets held at Uphold – anywhere from $1,000 to $200,000+. Customers and businesses no longer need to worry about selling their crypto assets, instead, they can receive U.S. Dollar loans, collateralized by their crypto assets held at Uphold and made available to a customer when a line of credit is paid off and closed.

Uphold Earn and Borrow mark the first time that we’ve seen fiat currencies, stablecoin currencies and blockchain working together to benefit a mass consumer market. Traditionally, the average consumer has been wary of digital currency for two reasons: volatility and a fear that, if they lose their key, they lose their money. Universal Dollar helps solve for both of these problems.

The Universal Dollar has many of the same 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 prolonged account dormancy Reduced exchange risk: thanks to a “detachable” wallet that permits “self-custody” at exchanges

“Up until now, the rate you receive on your loan has been predicated on which country you live in, who you bank with and the credit rating you receive,” said Dan Schatt, Co-Founder and President of Cred. Thanks to the efficiencies of blockchain, the unique properties of crypto assets and smart contract infrastructure, Uphold and Cred customers can benefit from a more efficient, transparent and equitable financial services structure.

For more information about Uphold Earn and Uphold Borrow, powered by Cred, visit: https://join.uphold.com/.