Uphold allowing users in Latin America to purchase stocks using cryptocurrencies
Posted on June 25, 2020 by Jonny
Uphold announced today that cryptocurrency users in Latin American will now be able to use their favorite blockchain assets to purchase partial shares in the world’s top corporations. At launch the cloud-based financial services platform will offer fractional stocks in 50 leading US equities and 16 exchange traded funds.
After signing up for an account, Uphold users will be able to purchase a stake in household names such as Apple, Amazon, Facebook, Netflix, Tesla, Disney, Visa, Citi, Home Depot, MasterCard, Cisco, Chase, Intel, Google, Bank of America, Nvidia, Proctor & Gamble, Roku, Adobe, A&T, and many more. Available ETFs include SPY, QQQ, GLD, and TQQ.
Although Uphold customers can invest as little as $1 US, equity trading doesn’t require US Dollars. Uphold supports dozens of cryptocurrencies, fiat currencies, and precious metals. That means it’s possible to trade Bitcoin for Apple stock in a single transaction.
Traders in Latin America will not only be able to take advantage of affordable trades but Uphold doesn’t have any minimums.
In a press release, the company stated, “Uphold, the leading digital money platform, today launches a groundbreaking equities service that gives millions of people in Latin America easy and affordable access to U.S. stocks for the first time.”
With inflation rampant throughout Latin America, growing money in a savings account can be a challenge. At the same time, other trading platforms have costly fees.
J.P. Thieriot, CEO of Uphold noted, “Despite offering attractive interest rates, most equity trading platforms have punitive fees, which end up hurting performance and making the exchange uneconomical and inaccessible to most people. From Uphold, we came to transform that, and offer a completely new service accessible to all.”
Uphold was founded in 2013 and formerly operated under the name Bitreserve. More information about Uphold can be found at Uphold.com
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