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Thinking Crypto News & Interviews
Is Uphold's USD Interest Account the BEST Way to Earn Interest on Your Crypto Profits?
Sep 13, 2024
Simon McLoughlin, CEO of Uphold, brings insights from the forefront of the crypto revolution. He discusses Uphold's new USD Interest Accounts, offering up to 5% returns, a game-changer in earning potential. The conversation dives into the evolving landscape of Neobanks and blockchain, emphasizing financial inclusion. McLoughlin also shares his outlook on the crypto market for Q4 and 2025, highlighting regulatory shifts and innovative plans for NFTs and self-custodial wallets, shaping Uphold's future in the industry.
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Quick takeaways
- Uphold's new USD Interest Accounts allow investors to earn up to 5% interest on their USD holdings, transcending traditional banking yields.
- Uphold plans to evolve into a neobank, offering integrated crypto and traditional banking services to enhance user accessibility and convenience.
Deep dives
USD Interest Accounts: A Game Changer for Crypto Investors
Uphold's new USD Interest Accounts provide a unique opportunity for crypto investors to earn substantial interest on their USD holdings. With an interest rate of 5% for balances over $1,000 and 2% for smaller amounts, this offering is designed to cater to the needs of customers who prefer holding cash in USD rather than stablecoins. The product is fully integrated into the Uphold app, allowing users to easily manage their funds, make trades, and earn interest without the hassle of moving money between separate bank accounts. Additionally, the accounts are insured through enhanced FDIC coverage, providing a secure way for users to keep their funds while generating a yield that exceeds traditional checking or savings accounts.
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