Cloud-based money platform, Uphold has launched phase 2 of its re-branding: a new funding ability for its U.S. members by allowing bank accounts, debit and credit cards to be linked to their Uphold accounts. Previously, U.S. accounts could only be funded by bitcoin, but following its change to European accounts, the U.S. has been granted the same functionality.
Anthony Watson, President and CEO of Uphold, who has recently come under fire for his views on bitcoin viability, stated: “The launch of ACH is an important stepping stone in Uphold’s path to bringing accessible, equitable, fair and free financial services to anyone, anywhere. Our members deserve a better way to access their hard earned money, faster and without unnecessary fees. Whether saving on checking fees, sending money abroad to family and friends, or handling international business transactions, Uphold is faster and cheaper than traditional services – and entirely more transparent. We are changing the status quo of financial services.” Watson has also stated on Twitter that “We’re not moving away from bitcoin, Uphold.inc is now the cheapest place to buy BTC! We have been, are and will be bullish on BTC.”
Fees applying to the new options have been announced as 2.75% for Visa and MasterCard debit and credit cards initially Bank transfers are free to withdraw from Uphold to a bank account up to $12,000 per year, with a 0.5% fee on anything above this limit.
Yet to come is Uphold’s implementation of these options in China and India, along with the previously announced physical and virtual payment cards with Visa, MasterCard and Discover card, allowing members to pay online or in stores using their Uphold accounts.