Uphold, formerly Bitreserve, today announced a complete rebrand and the launch of new functionalities, products and services to several key markets.
Now, consumers, businesses and charities can fund their Uphold accounts via bank transfer or by linking a credit or debit card, in addition to bitcoin. This new functionality is initially available today in 33 European countries. In the coming weeks, Uphold plans to roll out these and other capabilities across the United States, China and India.
o Phase 1: Live today: Members in 33 European countries can fund Uphold accounts via bank transfer; members in 30 European countries can fund accounts with credit or debit cards, in addition to bitcoin.
o Phase 2: November 2015: Members in the U.S and China (limited beta) can fund Uphold accounts via bank transfer and credit or debit cards in addition to bitcoin.
o Phase 3: December 2015: Uphold will introduce both physical and virtual payment cards with Visa, MasterCard and Discover card (limited beta), allowing Members to pay merchants online or in-store, directly from their Uphold accounts.
o Phase 4: January 2016: Members in India (limited beta) can fund Uphold accounts via bank transfer and credit or debit cards in addition to bitcoin.
What’s New & Noteworthy
o Bitreserve is now Uphold: Uphold is the world's leading cloud-based money platform. It connects the legacy and fragmented financial ecosystem with the future of money and finance. Which the company calls “The Internet of Money™”. Uphold offers accessible, equitable, fair and free financial services without risks, without restriction and without limitations. Full details are here.
o Previously, Uphold accounts were funded exclusively with bitcoin. Uphold members can now fund their accounts by linking bank accounts, debit and credit cards, in addition to crypto currencies. This allows Uphold members to move, convert, hold and transact in any form of money or commodity instantly, securely and for free.
o By integrating with Uphold, businesses and developers can create applications, products and services that deliver free, secure, regulatory compliant and instant value transfer, conversion, storage and exchange through Uphold’s open API, Uphold Connect.
o To date, Uphold has powered over $400 million in USD transactions by tens of thousands of members across 163 countries, in 24 supported currencies and four precious metals.
o The equivalent to just under 22% of the world's publicly traded bitcoin has been transacted on Uphold, making Uphold one of the largest bitcoin companies in the world.
“Our mission is to make it easy and frictionless for anyone, anywhere to move, convert, hold and transact in any form of money or commodity securely, instantly and for free,” said Anthony Watson, Uphold’s president & CEO. “By connecting the world’s legacy and fragmented financial networks and systems with the world's leading cloud-money platform we bring to the marketplace instant, transparent, accountable and free financial services for all. We’re simplifying and radically reducing costs for all financial transactions and services -- from currency conversions to international money transfers and payroll to bill payment and remittance.”
Uphold places equal value on business success and social benefit, waiving all fees for registered charities. In addition, 5% of the company’s pre-tax profits are donated to support charities and causes for good that make a demonstrable and positive difference in people’s lives around the world.