Uphold Crypto Exchange Allows Investors to Open a Line of Credit using BTC, ETH, XRP
Open a Line of Credit with BTC, ETH, XRP
Uphold is a new cryptocurrency exchange platform that has recently announced that it intends to launch the world’s first service that offers a line-of-credit. The line will allow users to generate yields from digital assets such as ETH and BTC.
The platform further stated that it is interested in adding other digital assets other time, particularly XRP. And it announced that it will be launching its mobile app soon. The platform is also discussed a giveaway worth $500,000 dollars, a new stablecoin. It stated,
“We’re soon launching both physical and virtual debt cards, and we’re going to turn this waiting list into a dynamic leader board rewarding early referral, community participation and transactional activity!”
The coin’s development is due to a collaboration between PiperwaterhouseCoopers and Cred platform. The two entities audit a stablecoin pegged to the dollar. The partnership is also focused on cryptocurrency loans that come with an interest rate of 2 to 5.5 percent.
Uphold plans to allow users to generate a “substantial yield” or to “secure a credit line” against their digital asset. The processes are called, an Uphold Earn, which yields 2 to 5 percent, and an Uphold Borrow, which has an interest rate of over 9 percent.
Users can use either BTCH or ECH, which will provide a non-term cryptocurrency line of credit. The platform also mentioned that users registering before the end of October 2018 will receive 1 percent off interest and 1 percent higher yields on deposits.