Uphold and Libra Credit Bring Crypto-Backed Credit to Consumers and Businesses

the global digital money platform that has powered more than $3.5
billion in transactions across 184 countries, and Libra
Credit, the leading company specializing in lending against
cryptocurrencies as collateral, today unveiled a comprehensive
commercial relationship that will offer Uphold users access to a variety
of Libra Credit products. Additionally, Uphold plans to list Libra
Tokens (LBA) on its platform.

“The concept of borrowing and lending against crypto assets is an
innovative model that is garnering strong interest from our users,” said
JP Thieriot, co-founder and vice chairman of Uphold. “Libra Credit has
built a user experience that is easy, affordable and will provide
significant value for our members.”

“Most people have never had an opportunity to borrow and lend against
crypto assets,” said Dan Schatt, co-founder and President of Libra
Credit. “In a world where everything is becoming tokenized, valuing
crypto assets as an asset class will strengthen the crypto economy and
offer much welcome liquidity to Uphold members.”

With the collaboration, Uphold users will be able to buy everyday items
using standard credit products, collateralized by crypto assets. The
integration will also enable Uphold members to borrow against their
existing crypto assets and to hedge and better diversify their holdings.

Together, Uphold and Libra Credit will revolutionize how Uphold members

“This is the most excited I’ve been since PayPal introduced credit to
its customers. Every crypto bank and exchange will benefit from Libra
Credit’s credit capabilities,” said Scott Thompson, Advisor to Libra
Credit, and former President of PayPal and former CEO of Yahoo.

“This isn’t an incremental advance over what’s out there. It’s a massive
paradigm shift. Libra Credit is bringing the credit market to an asset
class that will grow to trillions in the next few years,” said Richard
Liu, FBG Partner and investor in Libra Credit. “You need a seasoned team
to pull this off, and these guys know how to execute. We’re thrilled to
be supporting Libra Credit and their partnership with Uphold for the
long haul as the implications for financial access are profound.”

“We are happy to see companies like Uphold and Libra Credit make
progress with products that bridge traditional financial services with
blockchain, while addressing legal and regulatory requirements. Credit
and liquidity will benefit the crypto community and lead to more
mainstream financial service offerings,” said Grainne McNamara,
Principal and Head of Blockchain and Digital Assets at PwC Advisory.

About Libra Credit:

LIBRA CREDIT is a decentralized global lending network that facilitates
open access to credit anywhere and anytime. Founded by former PayPal
financial technology veterans, Libra Credit is a leader in the lending
industry, specializing in blockchain technology. Libra Credit is set to
revolutionize the lending industry by merging an established global
lending network, a diverse team of entrepreneurial leaders, machine
learning, and the power of blockchain technology.

To learn more about this convenient way to borrow and lend, visit www.libracredit.io

Partnership Inquiries: partnerships@libracredit.io

About Uphold:

Uphold is the creator of an open, trusted and transparent digital money
platform that lets you quickly and safely access traditional currencies,
cryptocurrencies, and other investments all in one place. Uphold has
powered more than $3.5 billion in transactions across 184 countries, in
more than 30 supported currencies and four commodities.

The Uphold platform provides access to the widest range of currencies
and investments available in one place, with transparency and security.
Uphold is the only company to publish real-time reserve holdings,
providing its members with the necessary information to make informed
decisions. Uphold has global operations in San Francisco, Los Angeles,
Braga, London and Mexico City. More information can be found at www.uphold.com,
or follow us on Twitter,
and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180712005272/en/

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