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The Fintech Times
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In Profile: Simon McLoughlin, CEO, Uphold
- Simon McLoughlin, CEO of Uphold, discusses the merging of traditional finance and decentralised finance, emphasizing the transformative potential of stablecoins in global payment systems.
- Uphold offers infrastructure for on-chain payments, banking, and investments, with services catering to consumers, businesses, and institutions.
- The company connects to bank rails in 150 countries, holds 50 licenses for fiat conversion globally, and aggregates liquidity from 31 exchanges, enabling access to on-chain financial services.
- McLoughlin highlights Uphold's UK staking service launch, allowing customers to earn returns on staked cryptocurrencies like Ethereum and Solana.
- He discusses the challenges in cross-border payments and the role of blockchain in simplifying and reducing costs associated with such transactions.
- McLoughlin's journey into fintech began with traditional finance and eventually led him to embrace blockchain technology's potential in revolutionizing financial systems.
- He expresses frustration with regulators' lack of understanding of technology and the need for clearer regulations to foster innovation in blockchain-powered finance.
- Uphold's future plans involve facilitating enterprise payments, offering on-chain financial services to traditional financial institutions and fintechs, and focusing on compliance to drive the digital assets market.
- The company aims to streamline the adoption of digital assets through regulated platforms, emphasizing transparency and trust in operations.
- McLoughlin envisions a shift towards enterprise-ready digital assets and the expansion of compliant on-chain financial services to mainstream users.
- He predicts further issuance of central bank digital currencies (CBDCs) but suggests stablecoins as a viable alternative with less privacy concerns.
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