Uphold, a multi-currency wallet that makes it possible for users to move, convert, hold and transact in cryptos and other forms of money or commodities including gold, has announced the launch of its multi-asset account and debit card. The card will enable holders to spend the value of their digital assets and commodities anywhere Mastercard is supported across the globe, according to a press release on March 5, 2020.
Uphold Launches Innovative Multi-Asset Account
In a bid to make life easier for its users by making it possible for them to spend the value of their bitcoin (BTC) holdings and other digital assets in all Mastercard-supported locations around the globe, Uphold has rolled out its multi-asset account and debit card.
As stated in its press release, users of the new multi-asset account will be able to convert an impressive 24 digital currencies into any of the supported 27 fiat currencies, and four precious metals instantly and make payments in real-time at all stores and ATMs where Mastercard is accepted.
The team says the Uphold Mastercard comes in both physical and virtual forms, as it is designed for convenience and versatility, enabling holders to carry out a vast array of operations on it via a user-friendly app available on Android, iOS, and web. The card is currently available for preorder only in the United States.
A World of Unending Possibilities
Commenting on the development, J.P. Thieriot, CEO of Uphold reiterated that the new product smashes the existing barriers between cryptocurrencies as well as other traditionally unspendable assets and the real world.
In his words:
“If you’ve ever wanted to buy a bicycle or groceries with assets held in crypto and gold, now you can. 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.”
In addition to allowing users to spend the value of their cryptocurrencies and precious metals anywhere they may go, the Uphold Mastercard also allows users to instantly convert these assets to cash and make withdrawals at around three million ATMs worldwide, on a 24/7 basis.
With bitcoin and other cryptocurrencies gradually gaining legal status as digital currencies across nations, it is only a matter of time before solutions such as the Uphold account become quite ubiquitous.