Uphold permits customers spent digital gold on a debit card

Digital Investment platform, Uphold, has introduced that its world clients should purchase a “better form of gold” within the UPXAU token.

Universal Gold (UPXAU) is a physical-gold backed token issued by the Universal Protocol Alliance and backed by the Government of Western Australia.

The token is free to carry and spendable on a debit card with no minimal funding required, it is usually one of many solely gold tokens that’s government-backed

One of the important thing drawbacks of investing in gold is the costly strategies of custody and transit, which regularly incurs month-to-month charges of as much as 0.4%.

Uphold and Perth Mint have now developed a extra sensible and reasonably priced approach of investing in gold by way of the UPXAU token.

Especially in gentle of this yr’s valuable metals bull market, permitting buyers to buy as little as $1 price of gold with zero custody charges in an especially distinctive utility.

UPXAU may be spent on an Uphold debit card identical to money and, in lots of international locations, Uphold clients can convert money of their checking account into Universal Gold – and vice versa – in seconds.

JP Thieriot, CEO of Uphold, said: “The three killer features of spendability, zero holding costs and government guarantee make this the perfect product at the perfect time – an enormously innovative form of gold for a world beset by COVID-19 and the trillions in currency debasement it will leave in its wake.

“We genuinely believe that Universal Gold is the best way of holding gold at one of the best times ever for gold investing.”

Minted with transparency, all UPXAU transactions are publicly verifiable on the Ethereum blockchain and audited by famend safety agency CertiK. UPXAU is that can be purchased and promote by Uphold and Bittrex.

“This is the only physical gold offering in the world that is Government-guaranteed, carries no storage costs and is physically redeemable,” mentioned Dan Schatt, Chairman of the UP Alliance. “When you combine this with all that the UP Alliance can provide – transparent value substantiation, digital portability, and debit card spendability – Universal Gold delivers the mainstream solution that gold investors have been waiting for.”

Universal Protocol is an alliance of main blockchain corporations – together with Ledger, CertiK, Bittrex Global and Uphold, with a mission to drive mainstream adoption of crypto property.

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