Digital finance platform Uphold has unveiled a multi-asset account with a debit card, which has the ability to convert crypto, gold, and other commodities into fiat currency.
With the card, users in the US can spend assets held in their Uphold accounts.
Go deeper with GlobalData
Stores and ATMs in the US supporting Mastercard will accept the new card.
The new offering supports 24 cryptocurrencies including Bitcoin (BTC), Basic Attention Token (BAT), and Ripple’s XRP.
It also supports four precious metals including gold, as well as 27 fiat currencies.
The card is said to be the first of its type and available in physical and virtual formats.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataUphold CEO J.P. Thieriot said: “Here, at last, is a debit card that transforms the utility of cryptocurrencies and other traditionally ‘unspendable’ assets by making them readily usable in everyday life.”
Cardholders will be able to freeze their cards temporarily or change PINs if required as well as breakdown spending by category.
Thieriot added: “At the core of Uphold is a uniquely sophisticated and flexible engineering architecture that seamlessly translates a multitude of asset classes into one common language.
“While a number of companies have discovered the power of the platform, the Uphold Card crystallises the benefits to retail users. Apart from being able to spend virtually anything, anywhere – you can now instantly convert to cash at around 3 million ATMs worldwide, 24/7, anywhere Mastercard is accepted.”
