Uphold, a San Francisco, CA-based digital money platform, acquired Optimus Cards UK Limited, a debit and credit card issuer across the UK and Europe.
The amount of the deal was not disclosed.
From April, Uphold plans to start rolling out a multi-asset, crypto-enabled debit card on the Optimus platform in Europe.
An Electronic Money Institution (EMI) regulated by the Financial Conduct Authority, Optimus acts as a primary card issuer (including FX multi-currency) and payments facilitator. Today, the firm serves customers in the fintech and Credit Union sectors offering a sophisticated platform that supports Apple Pay, Google Pay, Open Banking, as well as contactless and virtual cards, IBANs, UK sort-code and accounts, plus ‘cardless’ cash withdrawal.
Led by JP Thieriot, CEO, Uphold is a digital money platform serving almost 5 million customers in more than 150 countries. The company now manages more than $1 billion in customer assets. Leveraging blockchain technology, the platform provides both consumers and businesses with access to 38 digital assets, 27 national currencies, four precious metals and 50 fractional U.S. equities. The account allows users to toggle instantly between more than 100 funding sources and spend any of their holdings – from XRP to Tesla stock – at more than 50 million merchants worldwide, as well as access to cash at virtually all ATMs.