Upstream, “a stock exchange for digital securities,” says it is now accepting Tethere – USDT or USDC dollar-based stablecoins. USDT os the largest stablecoin by market cap at $137.5 billion. USDC is the second largest.
Upstream is part of MERJ, a regulated stock exchange based in Seychelles.
Upstream stated in an email that a significant advantage of depositing dollars to Upstream via crypto is the speed and efficiency of transactions.
“Cryptocurrency transactions are typically faster and more cost-effective than traditional bank transfers. This is particularly beneficial for users who need to make quick deposits to take advantage of market opportunities.
Additionally, using crypto for deposits provides a higher level of security. Blockchain technology ensures that all transactions are transparent and immutable, reducing the risk of fraud and ensuring that your funds are safe.
Moreover, the ability to use USDT and USDC for deposits aligns with the growing trend of digital finance. As more people adopt cryptocurrencies, having the option to use these digital assets for deposits makes Upstream a more versatile and future-proof platform.”
Upstream said the inclusion of stablecoins is emblematic of their commitment to providing innovative solutions.
While US citizens may not trade securities on Upstream, they can trade “collectibles” – as described in the fine print as not deemed to be securities.
