back Back

Uphold acquires Optimus Cards UK; rolls out crypto-enabled cards across Europe

By Megha Bhattacharya

February 03, 2021

  • Europe
  • Uphold
Share

upholdDigital money platform Uphold announced its acquisition of Optimus Cards UK Limited, a debit and credit card issuer across the UK and Europe. The Uphold platform aims to democratise investments by opening up access to traditionally hard-to-reach asset classes, including cryptos, precious metals, U.S. equities, and carbon credits.

“We’re delighted to have acquired an issuer with such a technically-sophisticated platform and a full EMI license,” said JP Thieriot, CEO of Uphold. “These attributes will shortly allow us to issue multi-asset, crypto-enabled debit cards across the UK and Europe. After passing the FCA’s rigorous ‘Change In Control’ process, we’re very excited to get to work and help scale Optimus’s thriving EMD agency business, which already supports several major crypto and fintech ecosystems.”

According to Uphold, its account allows users to toggle instantly between more than 100 funding sources and spend any of their holdings – from XRP to Tesla stock – at around 50 million merchants worldwide, as well as access to cash at virtually all ATMs.

“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.”

“The combination of Optimus’s tech-forward card platform and Uphold’s unique multi-asset wallet should create a compelling product,” said Thieriot. “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.”

Optimus is an EMI regulated by the Financial Conduct Authority, acts as a primary card issuer (including FX multi-currency) and payments facilitator. The firm serves customers in the FinTech and Credit Union sectors offering a sophisticated platform that supports Apple Pay, Google Pay, Open Banking, as well as contactless and virtual cards, IBANs, UK sort-code and accounts, plus ‘cardless’ cash withdrawal.

Previous Article

February 03, 2021

ParTech adds Dash Now to Brink POS integration partner ecosystem

Read More
Next Article

February 03, 2021

Top 5 FinTech takeaways from India’s Union Budget 2021

Read More








IBSi Daily News Analysis

Cybersecurity, financial services

May 17, 2024

Europe

Most of KSA organizations uses AI in their cybersecurity strategies, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 17, 2024

Confida and illimity create new capillary proximity network, Pehi

Read More

May 17, 2024

Niyogin acquires ‘Superscan’ from Orbo.ai to propel AI-led neo-banking

Read More

May 17, 2024

FinTech Focus: Catch latest developments of the week

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023