Blockchain-based banking in your hand
According to LinkedIn, Uphold is a digital wallet and trading platform founded in 2013. The goal of the platform is to makes cryptocurrencies and other assets affordable and accessible for everyone. Uphold claims that it provides borderless access to financial services that users can’t get through their bank. With Uphold, users can access more than 28 cryptocurrencies, 27 national currencies, six stablecoins, and four precious metals. This will help consumers and businesses to easily transact between digital and traditional currencies.
Uphold has its own mobile app which features Uphold’s Anything-to-Anything interface. It allows users to top-up their accounts, send money to friends and family abroad, or trade directly between more than 60 cryptos, national currencies, and metals. Uphold’s open API will also make it possible for third-party developers to build sophisticated financial products on top of Uphold.
Uphold raised more than $11 million in funding over 2 rounds, with the latest one finished on December 9, 2014. Crowdcube and Venovate are the key investors of Uphold, which help them increase their post-money valuation in the range of $100M to $500M according to PrivCo. They also did various acquisitions, with the recent one being JNK Securities Corp on June 27, 2018.
According to Crunchbase, there are more than 1.5 million users who use Uphold daily. Unlike other platforms, with Uphold users can trade directly without additional fees. It also claims to support instant transactions to any asset regardless of where the users live. At the time of writing, Uphold has more than $5.5 billion+ in transactions volume, making it one of the most popular crypto apps for mobile users. In order to reach their customers effectively, Uphold has offices in Silicon Valley, New York, London, and Portugal.