Cryptocurrency Platform Receives $57.5 Million from Ex Ripple Exec

Uphold, a digital asset platform, has announced that they have received a grand investment of $57.5 million from former Ripple executive. The investor, Greg Kidd, was also a Federal Reserve senior analyst, and will be joining the board of directors for Uphold. Kidd will also be making investments for Uphold’s research and development team. These aren’t Kidd’s first investments to large-scale companies. He has also invested in Coinbase, Twitter, and Square in the past. The investment will also help with Uphold’s loss assurance and will fund about 20 percent of digital holdings. This will protect investors from losses due to market volatility or any other problems that may arise. The license revenue and development department will also receive 20 percent of investments. This will add more types of cryptocurrencies to the platform and will strengthen the company’s financial systems. 35 percent of funding will be used on Uphold’s reserve balance sheet, and the remaining 45 percent will be used on equity. We are excited to see whether Uphold will live up to its name, no pun intended!

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