The Universal Protocol Alliance, a federation of several blockchain companies. It will launch a Euro linked Stablecoin in April.
The Stablecoin of Universal Protocol should therefore bear the name Universal Euro in short UPEUR and be 1: 1 connected to the euro. Users can earn up to 8% interest with the coin.
Initially, the Universal Euro will be available on the Uphold trading platform. And on participating crypto exchanges, and crypto service providers such as BitGo and Ledger will also accept it.
The new Stablecoin specifically targets countries with high inflation or limited access to traditional banks. Users in these regions can instead use the UPEUR as a store of value or means of payment, and at the same time they can earn interest by lending the coin.
About Universal Protocol alliance
The Universal Protocol alliance was founded in 2018 by six crypto related companies, including Bittrex crypto exchange, Brave decentralized browser, Berkeley University blockchain facility, event management firm Cred, Blockchain startup CertiK, and Uphold trading platform.
The Startup CertiK was again founded by scientists from the University of Columbia and calculates mathematically whether smart contracts and blockchain systems are sufficiently secure.
The new Stablecoin joins the current trend of stablecoins. This form of cryptocurrency has become increasingly popular in the current year, as the founder of the crypto purse OKEx has announced. For example, that his company brings together with the trustee Prime Trust its own Stablecoin on the market.
The IT giant IBM leaked last, that a dedicated Stablecoin is in the works, which is specifically tailored to banks and in the IBM Blockchain system for handling international payments to use.
Also published on Medium.