Uphold has added the pound sterling to its trading platform, helping British users make cryptocurrencies payments from their U.K. bank accounts.
According to reports, this step taken by Uphold to support pounds becomes effective on the 21st of January. Thus, meaning that its users get the opportunity to trade cryptos by using their U.K bank accounts. The beta version of the feature is already available.
How will the new system operate?
Reports state that users get to enjoy near-instant transfers during the week. This happens with the U.K. Faster Payment Services (FPS).
Besides, users in the U.K get the opportunity to make deposits with their bank cards. Furthermore, these deposits reportedly carry zero fees thanks to the U.K’s. Accordingly, the deposits get actualized within seconds.
Additionally, this development starts with about eight virtual coins. Hence, giving users the opportunity to make a deposit with coins like Ether, Bitcoin, and XRP.
CEO of Uphold, J.P Thieriot, mentioned that the trading platform maintains a structure that democratizes access to financial markets.
He also said that the addition of the U.K. comes at a crucial time. Majorly because the trading platform sets its sight on opening around 7,000 new accounts daily, resulting from its expanded line up of services.
About Uphold
The company started in 2013 as Bitreserve. However, the company got rebranded to Uphold in 2015 after deciding to offer financial services through a broader range of assets.
On a general note, Uphold claims to be a highly prominent and leading virtual money platform. The company reportedly holds over 1.7 million customers universally. As well as, about six billion dollars in its transactions.
Additionally, Uphold serves both retail customers and business customers. With blockchain technology, Uphold offers easy access to cryptocurrencies, precious metals, national currencies, and credit or yield products.
In addition to all these, customers get the chance to trade and purchase assets it currencies with a total of zero commissions. They also reportedly enjoy transferring funds to any and everyone across the globe.
At the end of the day, the company holds a reputation for uniqueness in its translation of every supported asset class.
