The Stacks Foundation, a leading blockchain platform, has just announced a new partnership with Uphold, the multi-asset money platform, aimed at boosting the mainstream Bitcoin (BTC) adoption, according to the information shared with Finbold on May 14.
Thanks to the collaboration, Uphold users will not only be able to trade native STX but also seamlessly transfer their STX between their external Stacks compatible wallets and Uphold accounts.
Uphold’s Anything-to-Anything trading model
Uphold stands out as more than just a typical cryptocurrency exchange with its Anything-to-Anything trading approach allowing users to trade between various asset classes such as cryptocurrencies, commodities, and equities.
With a global reach spanning over 184 countries and dealing with 250+ currencies (both traditional and crypto) and commodities, Uphold brings nearly a decade of experience to the table, having facilitated over $4 billion in transactions.
Transparency is another key pillar for Uphold, the platform always maintaining reserves of 100% or more and publishes its assets and liabilities in real time.
Bitcoin Layer 2s
Bitcoin is becoming more than a store of value, moving beyond its status as digital gold.
The reputation of the cryptocurrency is changing with the rise of Bitcoin Layer 2s, led by Stacks and other platforms that can unlock its potential as a fully programmable, productive asset by enabling applications to be built on top of it.
Stacks’ upcoming 2024 Nakamoto and sBTC releases promise faster speeds and transactions backed by 100% Bitcoin finality.
If successful, the release will enhance user and developer experience on the Stacks platform and pave the way for more applications on Bitcoin.
Partnerships like the one with Uphold reflect the growing interest, normalization, and mainstream adoption of digital assets, particularly Bitcoin Layer 2s like Stacks.
The Stacks Foundation looks forward to expanding alongside Uphold and bringing Bitcoin and Bitcoin Layer 2s to the mainstream.
