Uphold withdraws with Venezuela, citing US sanctions

Crypto trading platform Uphold said it will be withdrawing support for users in Venezuela due to sanctions imposed by the United States government. In a Thursday announcement, Uphold said “owing to the increasing complexity of complying with U.S. sanctions” the platform would “very reluctantly” be moving out of Venezuela. The platform advised users to withdraw their funds as soon as possible, noting it would halt trading for Venezuela-based clients on July 31, with all accounts “fully restricted” starting on Sept. 30. “As a U.S. financial institution, Uphold has to comply…

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Uphold becomes registered crypto-asset firm in UK post-FCA approval

A European subsidiary of United States-based crypto trading platform Uphold has received approval from the United Kingdom’s Financial Conduct Authority (FCA). According to the FCA website, Uphold’s U.K. subsidiary Uphold Europe Limited gained regulatory approval on Feb. 17, 2022, joining the select list of 32 firms that have received FCA approval as a Registered Crypto Asset service provider, out of the 200 that applied. The approval signifies that the firm is in compliance with the U.K. Anti-Money Laundering and CounTerrorist Financing regulations. FCA Registered Crypto Asset firms. Source: FCA In…

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Uphold obtains FINRA approval to acquire US broker-dealer

Cryptocurrency wallet and trading platform Uphold has received regulatory approval to purchase JNK Securities, a U.S. broker-dealer. In an announcement from Uphold today, the U.S. Financial Industry Regulatory Authority, or FINRA, gave the firm the green light to acquire JNK Securities. Uphold said the acquisition is aimed at allowing the platform to launch fractional equities in the United States later this year in addition to providing an interface for users to trade between crypto, stocks, carbon credits, precious metals, and other assets. “Bitcoin to Tesla stock in one seamless user…

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Uphold to launch crypto cards in Europe with new acquisition

Uphold, an American digital wallet and trading platform, has acquired European card issuer Optimus Cards UK Limited to launch a cryptocurrency-enabled card on the continent. According to a Feb. 2 announcement, Uphold is planning to roll out its crypto-powered debit card in Europe starting in April 2021. Uphold CEO JP Thieriot said that the launch in Europe follows a successful roll out in the United States: “From April, we plan to start rolling out the world’s first, multi-asset, crypto-enabled debit card on the Optimus platform in Europe. The card has…

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Uphold will not delist XRP before court decision

Cryptocurrency payment processor and exchange operator Uphold has formally clarified that it will not delist XRP for the time being. As part of an announcement made on Monday, Uphold stated it will not be removing XRP from its crypto offering until the lawsuit filed by the Securities and Exchange Commission is resolved. “Uphold has decided to continue listing XRP until and unless the SEC’s Complaint is adjudicated in the SEC’s favour and XRP is judged to be a security today (or trading volume dissipates to a point where we can…

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6 Questions for Michelle O’Connor of Uphold – Cointelegraph Magazine

Each week we ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes!   This week our 6 Questions go to Michelle O’Connor, VP of Marketing at Uphold Michelle is passionate about building the future of inclusive finance through emerging technologies to both streamline and empower businesses and consumers through transparency and financial inclusion. She has spoken on FinTech, blockchain and digital financial services and community building efforts, and was recently…

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Coil Creators Can Now Receive Payouts Using Uphold Wallets

Digital payment platform Uphold has announced a partnership that allows Coil creators to be able to select the platform as their wallet provider to receive payments in over 50 currencies. Coil is a service that provides alternative methods for content producers to monetize their work online. “The ability to pay for [their] app subscriptions, news articles, or premium experiences with zero-clicks and in real time feels like the future,” said Robin O’Connell, Chief Revenue Officer (CRO) at Uphold. The partnership with Coil will utilize the Interledger Protocol and allow creators…

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XRP TipBot Rescued From Dutch Regulations Through Partnership With Uphold

XRP TipBot, a service enabling users to transfer XRP to each other via comments on Twitter, Reddit and Discord, has been saved from the threat of extinction at the hands of new regulations in the Netherlands. In a May 14 blog post, developer Wietse Wind explained that the “personal hobby project” had been at risk due to a registration deadline and vastly increased costs in order to conform to recently passed Anti-Money Laundering (AML) legislation. However, the project has been saved, through a last-minute partnership with digital payment platform Uphold.…

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Uphold Announces Expansion of its Stablecoin Portfolio

Uphold, a digital money platform providing access to investments and payments using blockchain technology, has announced the expansion of its stablecoin offerings alongside the launch of a “Stablecoin Center.” The Center, according to the announcement, will offer access to six stablecoins in the platform, including four of the most popular in terms of market volume: Tether (USDT), TrueUSD (TUSD), USD Coin (USDC) and DAI. Uphold has also added coins from the Universal Protocol Alliance, such as UPUSD and UPEUR.  Writing to Cointelegraph, Uphold’s CEO, JP Thieriot, praised the recent addition…

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Crypto Startup Uphold Moves to Become Licensed U.S. Broker-Dealer

Digital money platform Uphold is looking to become a broker-dealer in the U.S. after acquiring a registered firm called JNK Securities, it was announced Wednesday. The company has now filed with the Financial Industry Regulatory Authority (FINRA) for approval of the change of ownership to become a registered broker-dealer. Ultimately, Uphold hopes to offer security tokens, fractional equities and other exchange services under the supervision of the U.S. Securities and Exchange Commission (SEC) and FINRA, as part of its new securities platform. Uphold’s general counsel, Ben Sherwin, explained the move to…

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