Cred and Uphold Democratize Global Lending and Borrowing

October 22, 2018 GMT

SAN FRANCISCO--(BUSINESS WIRE)--Oct 22, 2018--Uphold, a leading global digital money platform that has powered more than $4.0 billion in transactions across 184 countries, and Cred, the leading provider of crypto-backed lending with over $250 million in credit facilities, announced today two revolutionary consumer finance products using Blockchain technology, Uphold Earn and Borrow, powered by Cred.

Uphold will offer eligible customers a U.S. Dollar Stablecoin (Universal Dollar), a fully-transparent, digital asset that is backed 1-to-1 with U.S. dollars to be held at U.S. domiciled, FDIC-insured banks. Those customers who purchase the Universal Dollar can opt-in to Uphold Earn, which functions much like a traditional banking product, and can receive attractive and competitive rates, currently as high as five percent.

Uphold Borrow draws on Cred’s quarter-billion-US dollar credit facility, offering low-interest rate, revolving lines of credit. Qualifying consumers can borrow against their digital assets held at Uphold – anywhere from $1,000 to $200,000+. Customers and businesses no longer need to worry about selling their crypto assets, instead, they can receive U.S. Dollar loans, collateralized by their crypto assets held at Uphold and made available to a customer when a line of credit is paid off and closed.


“Uphold Earn and Borrow mark the first time that we’ve seen fiat currencies, stablecoin currencies and blockchain working together to benefit a mass consumer market,” said JP Thieriot, Co-Founder and CEO of Uphold. “Traditionally, the average consumer has been wary of digital currency for two reasons: volatility and a fear that, if they lose their key, they lose their money. Universal Dollar helps solve for both of these problems.”

The Universal Dollar has many of the same user safeguards and benefits expected of conventional financial assets, including:

  • Safety: fully reserved, built-in loss recovery and optional custody of private keys
  • Inheritability: users may nominate a beneficiary who can “call” the asset on prolonged account dormancy
  • Reduced exchange risk: thanks to a “detachable” wallet that permits “self-custody” at exchanges

“Up until now, the rate you receive on your loan has been predicated on which country you live in, who you bank with and the credit rating you receive,” said Dan Schatt, Co-Founder and President of Cred. Thanks to the efficiencies of blockchain, the unique properties of crypto assets and smart contract infrastructure, Uphold and Cred customers can benefit from a more efficient, transparent and equitable financial services structure.


For more information about Uphold Earn and Uphold Borrow, powered by Cred, visit:

About Uphold:

Uphold is the creator of an open, trusted and transparent digital money platform that lets you quickly and safely access traditional currencies, cryptocurrencies, and other investments all in one place. Uphold has powered more than $3.5 billion in transactions across 184 countries, in more than 30 supported currencies and four commodities.

The Uphold platform provides access to the widest range of currencies and investments available in one place, with transparency and security. Uphold is the only company to publish real-time reserve holdings, providing its members with the necessary information to make informed decisions. Uphold has global operations in San Francisco, Los Angeles, Braga, London and Mexico City. More information can be found at, or follow us on Twitter, Facebook, and LinkedIn. Not licensed in all jurisdictions.

About Cred:

Cred is a decentralized global lending platform that facilitates open access to credit anywhere and anytime. Founded by former PayPal financial technology veterans, Cred has secured over $250,000,000 of lending capital with offices in San Francisco, Shanghai, Singapore, Sydney and Munich. Cred’s mission is to harness the power of blockchain to allow everyone to benefit from low-cost credit products. Cred brings together a diverse team of entrepreneurial leaders, machine learning, and the power of blockchain technology. For more information, visit or follow us on Twitter, LinkedIn, or join our 100k+ community on Telegram.

About the Universal Dollar:

The Universal Dollar is a stablecoin created by the Universal Protocol Alliance (UP Alliance), whose members include Cred, Uphold, Blockchain at Berkeley and Brave. The Universal Protocol Platform is a transparent reserve system that introduces a ‘Universal’ digital standard and is backed by a group of leading institutional investors, including FBG Capital. The UP Alliance serves as the hub for the creation and management of the Universal Dollar, universal tokens and user features that will drive mass user adoption of cryptocurrencies. For everyday users, the platform introduces groundbreaking new types of safeguards that render cryptocurrencies significantly more practical and convenient to own, such as private key recovery and inheritability. The Universal Dollar will not be available in all jurisdictions. Funds held at FDIC-insured banks are subject to applicable insurance limits. For more information, visit

Uphold Borrow and Uphold Earn are new products not available to customers in all jurisdictions. Uphold Borrow and Uphold Earn will be subject to specific terms and conditions, which will be separately disclosed and, where available, will be provided by Cred through Uphold. This summary does not constitute an offer for any product or service.

View source version on

CONTACT: Communications for Uphold

Danica Ross, 415-593-1999



SOURCE: Uphold

Copyright Business Wire 2018.

PUB: 10/22/2018 04:00 PM/DISC: 10/22/2018 04:01 PM