Bittrex Global has listed Universal Euro (UPEUR) stablecoin along with Universal Dollar (UPUSD) and the Universal Protocol Token (UPT) according to a press release shared with NEWSCCM.
The Universal Protocol Alliance an affiliation of leading blockchain companies Bittrex Global, Cred (mycred.io), Uphold (uphold.com), Blockchain at Berkeley, and CertiK (certik.org), today announced the listing of three tokens on Bittrex Global.
The Universal Dollar (UPUSD) is pegged to with the US Dollar and the Euro is pegged to the Universal Euro (UPEUR) and the Bittrex Global to offer lower fees structure to UPT holders.
The launch of stable coins The Universal Dollar and Euro stablecoin intends to offer “transparency, lower fees and returns”.
The press release also mentioned the alliances wanted to offer alternate options to existing stablecoins with lower volatility and annual returns. The stablecoins holder can lend their EURO and USD-pegged assets to earn interest through CredEarn application on Uphold.com.
Bittrex Global CEO Tom Albright said in a statement
“We’re thrilled to join an Alliance of like-minded blockchain companies dedicated to incubating blockchain-based technologies and helping projects like the Universal Dollar and Universal Euro go mainstream,”
He further added
“The blockchain industry needs technology that can build trust and transparency, and the platform the Alliance has built should help drive mass utility and adoption.”
Chairman of the Universal Protocol Alliance Dan Schatt commented to provide “verifiable confidence to customers”:
“Unlike other Stablecoins, the Alliance seeks to flood the value substantiation process with daylight so it doesn’t operate as a black box. We provide customers verifiable confidence that they are buying a fully-reserved Universal Dollar or Euro,”
Co-founder of the Alliance has also expressed his view in a statement:
“This is the first of many tokenized digital assets we intend to introduce that will facilitate the instant and seamless conversion of different forms of value,”
He further commented saying
“In doing so, the UP Platform will unlock the vast and untapped full potential of blockchain to transform how individuals and businesses store and transfer value, with Universal Tokens representing the next generation of digital money.”
The Alliance has adopted a strategy of “Mass Adoption Through Collaboration”
According to the website of The United Protocol Alliances is a group of “like-minded cryptocurrency companies and blockchain pioneers”.
Currently, it has members leading blockchain companies Uphold, Cred, Brave, Blockchain at Berkeley, Certik, Bittrex Internation and Omisego.