Horizon Fintex

May 21, 2021

5 min read

Why we’re choosing USDC stablecoin for traders to use on Upstream over other digital currencies

Why Upstream exchange will accept both digital currency and traditional bank payments

Why we chose USDC stablecoin

A stablecoin is a digital token backed by real-world assets. USDC is a leading stablecoin that has a 1:1 value with the US dollar which helps mitigate the volatility inherent in traditional digital currencies like Bitcoin, Ether, etc.

Why we chose USDC over other digital currencies

We believe USDC will enable Upstream traders to transact using digital currency without having to worry about the intense highs and lows of Bitcoin or Ether, a reassurance that has proven valuable.

The future of trading on Upstream

We believe Upstream represents the next generation of trading, where traditional and blockchain investors can trade securities with digital currency and traditional bank payments. Our advanced technology integrations make it possible for USDC traders to enjoy a streamlined USDC off-ramp back to popular cryptocurrency exchange platforms like Coinbase.

  • Direct access to a regulated stock exchange through an intuitive trading app
  • Real-time trades driven by the Upstream trader community & instant settlements
  • Biometric-secured transactions with shares controlled directly on the traders’ smartphones
  • Transparent market and orderbook enforced by blockchain technology
  • FDIC-insured accounts for U.S. and non-U.S. account holders up to $250,000.

Sources:

  1. Elon Musk tweet
  2. Coindesk

About Upstream:

Upstream, a MERJ Exchange Market, is a fully regulated global stock exchange for digital securities. Powered by Horizon’s proprietary matching engine technology, the exchange will enable investors to trade shares in SPACs, high-growth startups, and other unique asset classes directly from the app. Interested issuers can reach the team at hello@upstream.exchange.

About MERJ:

MERJ Exchange operates Upstream as a fully regulated and licensed integrated securities exchange, clearing system, and depository for digital and non-digital securities. It is an affiliate of the World Federation of Exchanges, recognized by HM Revenue and Customs UK, a full member of the Association of National Numbering Agencies, and a Qualifying Foreign Exchange for OTC Markets in the US. MERJ is also a member of the Sustainable Stock Exchanges Initiative.

About Horizon:

Horizon is a fintech company that builds and powers global securities exchanges with an integrated suite of software for compliant issuance, management, and secondary trading of securities. Our in-house solutions combine Wall Street and Silicon Valley to power the next generation of securities offerings and trading in the U.S. and globally: https://www.horizonfintex.com/.

Disclaimers:

+ USDC funds are custodied pursuant to the Liechtenstein Law on “Tokens and Trusted Technology Service Providers” as passed in Blockchain Act on October 3, 2019 and/or MERJ Depository and Registry Limited: Licensed securities facility (License No. SF001).