Uphold (formerly Bitreserve) is a cloud-based digital money platform enabling users to buy, hold, convert and transact across 30+ currencies and commodities, including 6 cryptocurrencies. Uphold members can deposit funds to their account via bank account, credit card (disabled) in addition to cryptocurrencies such as bitcoin, litecoin and ethereum into reserve-backed currencies and commodities allowing anyone with a device to send, receive, and exchange money and commodities. Headquartered in Charleston, South Carolina, with offices in Larkspur, Braga, London, and Shanghai, Uphold allows users to convert bitcoin into “cloud money,” in 30+ currencies (dollars, euros, yen, rupee and others) and 4 precious metals (Gold, Silver, Platinum, and Palladium). The company also has an open API and has stated interest in addressing the remittance market through partnerships with the retail outlet Elektra and the Salinas Group. (Remittances from the US to Mexico alone ran to an estimated $22 billion last year, according to the World Bank.) Though Uphold holds bitcoins as stable, real-world currency, Anthony Watson, the former CEO, has stated it is “not a bitcoin company. In terms of bitcoin’s relevance to us, it is a means to an end.”
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