Upstream accepts account funding using USDC to trade listed U.S. and international equities
By Vanessa Malone
USDC is now integrated into Brazil and Mexico’s banking systems, streamlining accessibility to exchange Brazilian reais and Mexican pesos for USD-pegged stablecoin through local financial institutions. Circle’s announcement also notes that companies can offer USDC to Brazilian and Mexican retail investors, who will no longer need to convert their local currencies to U.S. dollars before swapping out for the stablecoin.
This development makes it quicker and more cost-effective for investors to use USDC for various financial transactions, including funding accounts on Upstream’s stock trading app, which accepts USDC to deposit, buy, and sell listed U.S. and international equities.
Circle’s expansion enhances cross-border financial flexibility and brings added convenience to Latin American investors looking to trade stocks more seamlessly on Upstream’s blockchain-powered platform using USDC.
USDC is a stablecoin backed by a reserve of U.S. dollars held by Circle. For every USDC token in circulation, Circle claims to hold an equivalent amount of U.S. dollars in reserve bank accounts. The USDC Circle Reserve Fund is held at The Bank of New York Mellon and is managed by BlackRock.
As a blockchain-powered market part of MERJ Exchange, it was essential for Upstream to ensure accessibility for the blockchain community by accepting digital currency alongside other flexible payment options including PayPal, credit/debit cards, and traditional bank payments. Upstream is working to become a global trading hub for issuers listed on all major stock exchanges to access investors outside of their home jurisdictions. USDC aligns with our platform’s blockchain infrastructure, offering interconnected, streamlined, and transparent transactions.
Other Upstream market benefits include instant trades and settlement, best bids and offers publicly displayed, expanded trading hours, and no predatory market practices like short selling or routing order flow.
Fund your Upstream account with USDC
First, be sure you have Upstream downloaded on iOS or Android, and sign up.
You may have a personal USDC wallet on Ethereum mainnet in a hardware wallet (such as Ledger), a software wallet (such as Metamask), or at an exchange (such as Coinbase).
In order to use an Upstream address on Ethereum mainnet, you must export your Upstream wallet using the Upstream app function ‘Manage Signing Key’ -> ‘Export Signing Key’. The Upstream key/wallet is exported as a password-encrypted (JSON) text file, which can be imported into Metamask (amongst other Ethereum wallet providers).
To send funds from your personal wallet on the Ethereum mainnet, you must first transfer USDC from your mainnet personal wallet to the Upstream wallet address that you imported to Metamask.
Once the USDC is in the Upstream wallet address on Ethereum mainnet, you can transfer USDC to the usdc.upstreambridge.eth address using Metamask.
The Upstream bridge-service automatically recognizes user deposits coming from known Upstream wallet addresses and then mints the corresponding amount in Upstream 1:1 in the users Upstream app.
In summary, to fund Upstream using USDC:
- Export Upstream app wallet & import to Metamask
- Transfer USDC to imported wallet address
- Transfer imported wallet USDC to usdc.upstreambridge.eth
Conclusion
We are thrilled with the continued expansion of USDC as it further streamlines the ability for investors to access digital currency and trade securities with both digital and traditional payment methods. Our advanced technology integrations make it possible for USDC traders to enjoy a streamlined USDC on-ramp and off-ramp back to popular cryptocurrency exchange platforms. Learn more at https://upstream.exchange/.
Upstream Disclaimers:
U.S. persons may not deposit, buy, or sell securities on Upstream. Anyone may buy and sell Collectibles on Upstream.
This communication shall not constitute an offer to sell securities or the solicitation of an offer to buy securities in any jurisdiction where such offer or solicitation is not permitted. Collectibles have no royalties, equity ownership, or dividends. Collectibles are for utility, collection, redemption, or display purposes only. Anyone may buy and sell Collectibles on Upstream. All orders for sale are non-solicited by Upstream and a user’s decision to trade securities must be based on their own investment judgment.
Upstream is a MERJ Exchange market. MERJ Exchange is a licensed Securities Exchange, an affiliate of the World Federation of Exchanges, a National Numbering Agency, and a member of ANNA. MERJ is regulated in the Seychelles by the Financial Services Authority, https://fsaseychelles.sc/, an associate member of the International Association of Securities Commissions (IOSCO). MERJ supports global issuers of traditional and digital securities through the entire asset life cycle from issuance to trading, clearing, settlement, and registry. It operates a fair and transparent marketplace in line with international best practices and principles of operations of financial markets. Upstream does not endorse or recommend any public or private securities bought or sold on its app. Upstream does not offer investment advice or recommendations of any kind. All services offered by Upstream are intended for self-directed clients who make their own investment decisions without aid or assistance from Upstream. All customers are subject to the rules and regulations of their jurisdiction. By accessing the site or app, you agree to be bound by its terms of use and privacy policy. Company and security listings on Upstream are only suitable for investors who are familiar with and willing to accept the high risk associated with speculative investments, often in early and development-stage companies. U.S. persons may not deposit, buy, or sell securities on Upstream. There can be no assurance the valuation of any particular company’s securities is accurate or in agreement with the market or industry comparative valuations. Investors must be able to afford market volatility and afford the loss of their investment. Companies listed on Upstream are subject to significant ongoing corporate obligations including, but not limited to disclosure, filings, and notification requirements, as well as compliance with applicable quantitative and qualitative listing standards.
Collectible products are akin to a digital sticker of an underlying artwork and should not be considered a financial investment; a security token, an e-money token, or a form of digital currency. Collectibles should not, therefore, be purchased by anyone seeking financial gain or with an expectation to profit from the purchase, ownership in the entity, dividends or distributions, sale or resale of a Collectible. By buying a Collectible, you agree that you are not doing so for investment purposes or for the purposes of obtaining a security or an appreciating asset. You understand that the benefit you receive for buying a Collectible is limited to supporting athletes, celebrities and other brands. You also acknowledge that ownership of a Collectible does not carry with it any rights, express or implied, including (without limitation) copyright, trademarks or other intellectual property or proprietary rights in and to the underlying artwork. The copyright to the digital artwork remains with the copyright holder.
Forward-Looking Statements
This communication contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential,” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) difficulties in obtaining financing on commercially reasonable terms; (ii) changes in the size and nature of our competition; (iii) loss of one or more key executives or brand ambassadors; and (iv) changes in legal or regulatory requirements in the markets in which we operate. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.