Uphold, a U.S.-based digital finance platform, announced on Thursday the launch of its multi-asset account with an affiliated debit card, which allows users to convert multiple funding sources, including Bitcoin, XRP, BAT, and Gold into fiat currency, to spend everywhere Mastercard is accepted, as well as withdraw cash at virtually all ATMs worldwide.
Uphold reported that the assets are held in an Uphold account and will enable holders to convert 27 fiat currencies, 24 digital currencies, and four precious metals instantly to fiat currency at the time of a transaction. Further explaining the account and debit card, Uphold’s CEO, J.P. Thieriot, stated:
“If you’ve ever wanted to buy a bicycle or groceries with assets held in crypto and gold, now you can. The Uphold Card is a milestone for our users and for the cryptocurrency industry. Here, at last, is a debit card that transforms the utility of cryptocurrencies and other traditionally ‘unspendable’ assets by making them readily usable in everyday life.”
The Uphold Card is issued by Evolve Bank &Trust Member FDIC, pursuant to a license from Mastercard International.