Uphold is a cloud-based financial platform that enables users to securely hold, convert, and transact various digital assets, including over 200 cryptocurrencies, 27 national currencies, and four precious metals. It operates on an "Anything to Anything" model, allowing direct cross-asset trading without converting to fiat currency first. The platform executes transactions through 29 centralized, decentralized, and Layer two trading venues, providing deep liquidity and minimizing slippage.
One of Uphold's key offerings is its multi-asset debit card, accepted at over 50 million merchants globally, enabling users to spend their crypto, fiat, or precious metal holdings directly. The platform also facilitates automated trading through features like recurring buy/sell orders and limit orders.
Uphold boasts industry-leading transparency, publishing its assets and liabilities in real-time on its website, ensuring a 1:1 reserve ratio. It has obtained licensing from regulatory bodies like FinCEN and the FCA, prioritizing compliance and security measures like cold storage and 24/7 monitoring.
In April 2023, Uphold announced Topper, a new fiat-to-crypto on-ramp designed to provide higher approval rates and generate more revenue for Web3 projects. Additionally, in June 2023, Uphold became the only US crypto trading platform to offer Trailing Stop orders, allowing users to automatically sell if the price falls below a set percentage.
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