The Universal Protocol Alliance (UPA) formally introduced that the Universal Dollar (UPUSD), the Universal Euro (UPEUR), and the Universal Protocol Token (UPT) have been listed on Bittrex Global, providing a decrease charge construction for UPT holders.
The Alliance acknowledged that the UPUSD and the UPEUR stablecoins are collateralized 1:1 with their respective fiat currencies, whereas UPT goes to supply advantages on to Alliance members.
According to the announcement, these tokens will enable customers to entry a substitute for current stablecoin merchandise, lots of that are additionally supported by the UP Platform. They may even provide decrease volatility, and supply a particular annual charge of returns.
With this itemizing, UPEUR turns into the primary Euro stablecoin to debut within the trade.
This transfer may even goal customers residing in nations with excessive inflation, giving them a solution to retailer their digital property on a 1:1 foundation in licensed banks.
Bittrex Global’s CEO Responds
Tom Albright, CEO of Bittrex Global, praised the announcement, stressing that this information goes to assist tasks just like the Universal Dollar and the Universal Euro go mainstream.
Albright added the next concerning the blockchain trade:
“The blockchain industry needs technology that can build trust and transparency, and the platform the Alliance has built should help drive mass utility and adoption.”
Users trying to generate a return can stake their UPUSD by way of the CredEarn utility in Uphold.
Key inputs on the UP platform
The expertise behind the UP platform, as detailed by the Alliance, provides the next attributes to the Universal Dollar:
Key restoration: Users can get well their funds in the event that they lose their non-public keys.
Inheritability: Users can title “beneficiaries” who can name the property after extended account dormancy.
Detachability: Control over their property could be delegated to a centralized alternate.
Dynamic code era: The Universal Protocol Platform employs good contracts to generate tokens.
On future tasks involving new tokens, JP Thieriot, co-founder of the Alliance, commented as follows:
“This is the first of many tokenized digital assets we intend to introduce that will facilitate the instant and seamless conversion of different forms of value.”
About the Universal Protocol Alliance
The Alliance is a coalition of cryptocurrency and blockchain firms that seeks to speed up the adoption of blockchain as a mainstream monetary expertise. It consists of organizations equivalent to Bittrex Global, Cred, Uphold, Blockchain at Berkeley, and CertiK.