At the beginning of April, the digital payment platform Uphold announced the launch of a debit card which allows spending the cryptocurrencies held on the accounts of its customers. This time, the platform has decided to launch another service offering practical use of cryptocurrencies to the inhabitants of Latin America. It will be for them to use their assets in cryptocurrencies to acquire shares in the main global companies. The announcement which was made through a press release from the company does not hesitate to describe the service as “revolutionary”.
Allow South Americans to Preserve their Wealth
With this new service, Uphold wants make equity investments affordable in this inflation-hit region. J. P. Thieriot – The CEO of Uphold – moreover estimated that the existence of this service from 2010 would have enabled many South Americans to preserve their wealth.
He explains: “If you had put $ 1,000 in the basket of 50 American stocks ofUphold in June 2010, your investment would be worth about $ 5,785 today, against only 337 dollars if you left your money in Brazilian Real, 50 dollars in Argentine pesos or, shockingly, less than a penny in venezuelan bolívars “
To make the operation much more sustainable, the announcement states thatthere will be no transaction fee levy. In the same vein, the minimum investment has been set at $ 1 or 10,000 Satoshis.
It should be remembered that the platform supports more than a dozen cryptocurrencies which can also be used for this purpose. Therefore, whether you hold bitcoin or not, you will be able to perform this operation for the first time from Latin America. With regard to the actions concerned, the ad notably quotes Apple, Tesla, Walmart and 47 other US companies.
With this new service, Uphold shows once again how cryptocurrencies can be used to make financial market products much more accessible to the public. The platform is also active behind the scenes to extend it to other regions of the world even if a calendar has not been announced yet.
In the crypto-bath since 2017, both much too late but quite soon from the point of view of my future grandchildren ????
Writer, Amateur Trader, Ethereum and NEO-compatible