Bitreserve rebrands as Uphold and connects cryptocurrencies like bitcoin with credit cards and bank transfers

Some 22 per cent of the world's publicly traded bitcoin has been transacted on Uphold (Source: Getty)

Bitreserve has just launched anew after a massive overhaul which has the platform transformed into Uphold, where customers can fund their accounts via not just bitcoin but also credit cards or bank transfers.

The newly launched service marks an integration of cryptocurrencies with legacy financial systems.

Before, the cloud-based money platform could only be funded with bitcoin, but the new platform connects the digital currency with more traditional methods of payment, as the company’s president and chief executive Anthony Watson said:

Our mission is to make it easy and frictionless for anyone, anywhere to move, convert, hold and transact in any form of money or commodity securely, instantly and for free.

Watson added that Uphold’s vision was to “radically” reduce costs of financial transactions such as currency conversions and international money transfers.

Uphold has already powered transactions worth some $400m, as around 22 per cent of the world’s publicly traded bitcoin has been transacted on the platform.

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