Uphold, an American digital finance trading platform, has acquired European card issuer, Optimus Cards UK Limited, a leading debit and credit card issuer across the UK and Europe. With this new acquisition, Uphold intends to launch a crypto-enabled card for the greater European region.
According to a press release, the acquisition comes with a full Electronic Money Institution (EMI) license from the U.K’s Financial Conduct Authority. Uphold plans to launch its crypto-powered debit card in Europe in April 2021.
Uphold CEO, JP Thieriot, said:
“From April, we plan to start rolling out the world’s first, multi-asset, crypto-enabled debit card on the Optimus platform in Europe,’ said Thieriot. ‘The card has already proved a hit with our U.S. customers offering a unique combination of utility, convenience and crypto-back rewards”.
Adding that: “Very soon our European customers will be able to receive part or all of their salary in Bitcoin – or any asset of their choice – and spend it using Uphold Cards issued through Optimus.”
The Uphold card will enable users to choose between more than 100 funding sources and spend any of their holdings – including cryptocurrencies, precious metals, U.S. equities, and carbon credits – at more than 50 million merchants worldwide, and enable them to access cash at virtually all ATMs.
“The combination of Optimus’s tech-forward card platform and Uphold’s unique multi-asset wallet should create a compelling product,” said Thieriot.