In the world of technology, the terms blockchain and cryptocurrency are two latest sensations that are ready to change the world of data storage and the world of finance. The cryptocurrency markets are growing at a rapid pace across the world. Many digital payment platforms are now interested in adopting cryptocurrencies. Customers in the United States are benefitting a lot with such developments. Noted analysts think that governments now realize the importance of programmable money, making it easy for consumers to access such cryptocurrency markets. Hence they are preparing for the platform for these two technologies coming ahead. It involves many governments also to facilitate the platform.
Uphold adds support for cryptocurrencies in the US
Uphold has recently added support for LINK, EOS, ATOM, ADA, and ZIL. Even though they were launched in 2019 elsewhere, it was only recently made available for US consumers. Similarly, Revolut also launched recently in the US by offering crypto support. The consumers can now buy and sell Ether and Bitcoin through the app. Revolut officials said that they are planning to add support for many other cryptocurrencies in the near future.
The advantage with Uphold is that it allows consumers to withdraw money easily, and this is something that is not found with others like Revolut. This platform offers full support for onboarding and offboarding for all of its blockchain networks. However, more and more consumers are involved in trading such cryptocurrencies at this moment.
Digital payment platforms are new banks
This will become the new norm of the cryptocurrency world in the future as digital payment platforms are organizing themselves in the lines of conventional banks. Recently Abra, which hosts a cryptocurrency investment app, launched its savings account option for customers. In this way, customers will get to earn an interest of up to 9% per year on their digital assets. Such moves by these digital platforms give confidence to consumers in the long run.
Considering all these developments, even conventional banks are showing interest in adopting cryptocurrencies. Even though they may not open up completely towards such digital assets, they may tie-up with digital payment platforms to offer more convenience for investors. Many analysts believe that Abra can eventually become a nationally chartered bank, which will put it directly in competition with many other traditional banks. In this way, the national banks may also show some interest towards adopting cryptocurrencies in the future.