Now, the platform has 6 different types of stablecoins to benefit users in Latin America.
UpHold, the renowned company dedicated to exchanging money on the web, recently announced that it has managed to include more stablecoin exchange options on its platform. Besides, the company reported that it is developing a section for these cryptocurrencies, whose name will be “Stablecoins Center”. This option will be available for users in Latin America.
According to a press report published last June 2nd, the so-called Stablecoin Center will allow users of the UpHold platform to acquire up to six different types of stablecoins. The company detailed that it made an important effort to include the most requested stablecoins in the market such as DAI, TrueUSD, Tether, and USD Coin. The platform also included other options like UPEUR and UPUSD, which belong to the Universal Protocol Alliance.
About this new service, UpHold CEO, J.P. Thieriot, said he was excited about including this new option on the platform. He also took the opportunity to mention some of the most important characteristics of stablecoins.
“Today, we believe that it is very important to be able to provide our clients with the cheapest and most transparent method of managing their money. Stablecoins are less volatile than conventional cryptocurrencies. They have tied 1: 1 to safe-haven currencies like the USD.”
Furthermore, Thieriot mentioned that established institutions like some central banks around the world could be using and adopting this technology. In this sense, he assured that stablecoins are a very good option for those who are looking for savings or asset protection options.
On the other hand, the executive referred to the expansion of stablecoins in the Latin American market. He mentioned that it is possible that the citizens of these countries are interested in this type of option, especially due to the economic difficulties that most of the southern countries are facing.
“In many Latin American countries, economies are very changing. The loss of value of local currencies (backed by governments with little credibility) and with a lot of inflation, means that the purchasing power of people is affected over the days.”
The businessman continued mentioning that stablecoins are the most viable option for the region, especially if UpHold conditions the system to be quick and easy to use. “Our goal, with the new Stablecoin UpHold Center, is to make available to users in Latin America a new, easy, and accessible tool to protect their finances. An option available to everyone,” he said.
According to information on the platform, users can currently make purchases on more than 50 types of exchange, including now the six new stablecoins that are easier to acquire if the user is in any country in Latin America.
This platform not only performs exchange operations with cryptocurrencies, but it is also possible to send and receive exchanges in national fiat currencies and trade with some types of precious metals.
UpHold has more than two million active users. It offers a simple interface so that anyone can manage the financial operation without too many complications. To date, it is only necessary to open an account on the platform to start using its services, something that could be very positive for new users.
By María Rodríguez
