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Uphold to Launch Crypto Card in Europe After Optimus Acquisition

The firm plans to start rolling out its multi-asset debit card on the Optimus platform in Europe "shortly."

Updated May 9, 2023, 3:15 a.m. Published Feb 3, 2021, 1:55 p.m.

Digital finance platform Uphold says it has acquired card-issuer Optimus Cards UK, opening the door for the firm to roll out its own "crypto-enabled" debit card in Europe.

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Uphold announced the news Tuesday, saying its new acquisition comes with a full Electronic Money Institution (EMI) license from the U.K.'s Financial Conduct Authority (FCA).

The firm plans to start rolling out its multi-asset debit card on the Optimus platform in Europe "shortly."

CEO JP Thieriot said Uphold had to pass the FCA’s rigorous “Change In Control” process for approval of firms seeking to acquire or increase control of another company.

“We’re very excited to get to work and help scale Optimus’s thriving EMD agency business, which already supports several major crypto and fintech ecosystems," he said.

European Uphold customers will soon be able to receive part or all of their salary in bitcoin or other asset "and spend it using Uphold Cards issued through Optimus,” Thieriot added.

Uphold was founded by CNET founder Halsey Minor as Bitreserve in 2014. He left the firm in 2018, according to his LinkedIn profile.

Debit Cards Acquisitions Uphold

Tanzeel Akhtar

Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.