Mr Ghita El Kasri, Chief Operating Officer of Moroccan cryptocurrency startup platform United Coin has revealed that the project would be launching its exclusive all-in-one cryptocurrency platform in 2019. This platform will be called the UPX and will allow costumers to trade cryptocurrencies such as Bitcoin, XRP, Ether, Litecoin and Dash with fiat currencies. Additionally, it would enable mining and will offer a debit Mastercard. According to Ghita, the UPX will be launched by the second quarter of 2019.
Speaking to BlockPublisher, Ms. Kasri revealed the larger prospect of United Coin, its use of blockchain and compliance to regulations. She said:
We’re building a community that would hold this blockchain. It would not be controlled by any entity.
The main component is to maintain compliance, to move with the regulation. We’re growing organically and the exchange is fully compliant with the Securities and Exchange Commission. We’re currently in our funding stage.
Earlier this year, it was reported that the Moroccan startup had launched its ICO, in a bid to raise USD 250 million for the multi-currency banking system. The aim of this platform is to facilitate peer-to-peer transactions, allowing users to trade crypto and fiat currencies through a state-of-the -art mechanism. They can also “lend” any spare capacity on their device to other members for mining, earning rewards. UnitedCoin rewards members by injecting 20 per cent of its operating revenue each month into the system, as well as with an annual savings reward.
Ms. Kasri provided further update on the goals of the platform, which is to liberate the use of cryptocurrencies and provide ease of usage. She said:
We are creating an ecosystem that includes an educational part. Our target is [to help] all individuals, everyone curious about new technology and blockchain.
We want you to send your mum Bitcoin [she joked], the idea is to have it mum friendly. They’re the busiest people in the family. They have little time to discover new things. If it’s easy for mums to adopt it’s easy for everyone to adopt.
The startup is worth looking out for, and raised USD 175,000 in 2016 to develop its platform, recently closed a deal with a Mexican bank, which is using UnitedCoin’s technology to offer services to its clients and to manage its US$4 billion portfolio.