A consortium of blockchain companies including Bittrex International, Brave, Cred, and Bitgo is launching a new stablecoin. Universal Protocol Alliance’s Universal Dollar (UPUSD) is a dollar-pegged token whose holders will earn interest, just like a regular savings account. The consortium has announced ambitious plans to launch UPUSD in Africa and Latin America first, to attract “the next 100 million users into cryptocurrency.”

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Crypto Assets That Pay Interest Are So Hot Right Now

Competition for the USD ticker is fierce these days. In addition to TUSD, GUSD, and USDC, the stablecoin economy now has UPUSD. Universal Protocol’s stab at a stablecoin, developed with the backing of Bittrex International, Uphold, Brave, Cred, Blockchain at Berkeley, Bitgo, and Certik, is an ERC20 token that will allow its holders to earn interest for staking. In that respect, there are clear parallels to be made with Blockfi’s crypto interest account, which

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Source: https://news.bitcoin.com/universal-protocol-alliance-launches-interest-paying-stablecoin-upusd/