Uphold, a San Francisco, CA-based digital money platform, Uphold, has entered a $57.5M partnership with Greg Kidd, investor in Ripple, Square, Coinbase and others.
Kidd will also join Uphold’s Board of Directors and furthermore, its investment vehicle, Hard Yaka, will fund the creation of Uphold Labs to accelerate R&D efforts to its consumer and partner solutions businesses.
The partnership is designed to increase loss assurance for consumers to around 20% of total current crypto holdings.
Led by Adrian Steckel, CEO, Uphold is the creator of a multi-purpose digital money platform that provides instant and safe access to the widest range of currencies, cryptocurrencies, and other investments. The company has powered nearly $3 billion in transactions across 184 countries, in 30 supported currencies and four commodities. Uphold has global operations in Braga, London, Los Angeles, Mexico City, and San Francisco.
Greg Kidd previously worked as a Senior Analyst in the payments group for the Board of Governors of the Federal Reserve and as a director for the regulatory consultancy Promontory Financial. he took his first company public almost twenty years ago on the Nasdaq, and has subsequently invested in 60+ firms in the payments, identity and marketplace sectors. Starting in 2013, Kidd added strategic investing in cryptocurrency assets to his portfolio mix, and has shifted his focus to ensuring that the benefits of digital identity and digital currency accrue to the general population. Hard Yaka is Greg Kidd’s investment firm.