The Universal Protocol Alliance, a group of leading blockchain companies including Bittrex Global, Brave, Blockchain at Berkeley, Uphold, Cred and CertiK, announced on Thursday the listing of three tokens on Bittrex Global: the Universal Dollar (UPUSD), The Universal Euro (UPEUR), and the Universal Protocol Token (UPT).
According to the organization, the Universal Dollar and Euro stablecoins are aimed at users looking for an alternative to existing stablecoin products, and those looking for low volatility and a competitive annual rate of return. It was also reported that in countries with high inflation or limited access to traditional banking, users can now lend their EURO and USD-pegged assets and earn interest.
“To earn a return, users can stake their UPUSD via the CredEarn application on Uphold. In developed countries, UPUSD and UPEUR provide a transparent and secure way for users to store their digital assets held on a 1:1 basis licensed and insured banks.”
Speaking about the launch, Tom Albright, CEO of Bittrex Global, stated:
“We’re thrilled to join an Alliance of like-minded blockchain companies dedicated to incubating blockchain-based technologies and helping projects like the Universal Dollar and Universal Euro go mainstream. The blockchain industry needs technology that can build trust and transparency, and the platform the Alliance has built should help drive mass utility and adoption.”
The Universal Protocol Alliance then added that UPUSD and UPEUR will trade freely on Bittrex Global.