SAN FRANCISCO--(BUSINESS WIRE)--The Universal Protocol Alliance, a coalition of leading blockchain organizations including Bittrex International, Brave, Uphold, Cred, Blockchain at Berkeley, and CertiK, today announced the launch of the Universal Euro (UPEUR) in select jurisdictions. UPEUR is a Euro-pegged stablecoin collateralized 1:1 with the Euro and can earn up to an 8% annual return through the CredEarn application.
The Universal Protocol (UP) Alliance is a coalition of some of the most respected organizations in the world of blockchain that have united around a new universal transparent reserve standard that aims to attract the next 100 million users to cryptocurrency. By creating new, powerful digital asset products the UP Alliance aims to appeal to everyday consumers.
The Universal Euro: Transparency, Low Volatility, and Returns
The Universal Euro stablecoin is aimed at users looking to keep their assets in Euros, and those looking for low volatility and a competitive annual rate of return. In countries with high inflation or limited access to traditional banking, users can now lend their Euro-pegged assets and earn interest. To earn a return, users in eligible jurisdictions can lend their UPEUR via the CredEarn application on Uphold. UPEUR provides a transparent and secure way for users to store their digital assets held on a 1:1 basis.
“The Universal Euro is the latest digital asset product from the UP Alliance and will introduce Euro-denominated stablecoins to those who appreciate the stability of the Euro and the efficiency and returns crypto can offer ,” said Dan Schatt, Co-founder of the Universal Protocol Alliance and Cred. “We have given this stablecoin the same level of commitment to code-quality, transparency, interoperability and investor safeguards as all Universal Tokens.”
UPEUR is the third digital asset to be launched on the Universal Protocol Platform within the past few months. It was preceded by the Universal Dollar (UPUSD), the US Dollar pegged equivalent of UPEUR, and Universal Bitcoin (UPBTC) – a bitcoin proxy token that enables Ethereum applications to interact with the bitcoin network. The UP Alliance mints between 6-8 new tokens each year.
“The UP Alliance has a steadfast mission to bring 100 million new users into the world of crypto currency by building products that disrupt traditional models and provide real value to consumers,” said JP Thieriot, Co-founder of the Up Alliance and CEO of Uphold.
To learn more visit: https://medium.com/universalprotocol/meet-the-universal-euro-de8b7ef96c7b
About the Universal Protocol Alliance
A coalition of cryptocurrency companies and blockchain pioneers, the Universal Protocol Alliance seeks to accelerate the adoption of blockchain as a mainstream financial technology by making digital assets more accessible, secure and convenient to own. The Alliance Members consist of Bittrex, Cred, Uphold, Brave Software, Blockchain at Berkeley and CertiK.
Note: The information herein is provided for informational purposes only and is not an offer to sell, and shall not be deemed a solicitation of an offer to buy, any tokens. UPEUR is not available in all jurisdictions. Any offering or sale will be made in compliance with the laws of relevant jurisdictions, including those of any countries which prohibit the sale of digital assets or cryptocurrencies or who are located, organised or resident in a country or territory that is the subject of country-wide or territory-wide sanctions. CredEarn is not a deposit relationship. Interest accrues on amounts actually borrowed by Cred, and is calculated on a simple interest basis based on the number of days and amount of the assets borrowed. Not all customers will be able to participate and not all funds may be borrowed. Persons who affirmatively opt in to the service. Additional terms and conditions will apply.
Learn more at: www.universalprotocol.io