The global acceptance of blockchain and digital assets is on the rise, with the advantages of cryptocurrency payments in terms of efficiency, cost, and cross-border convenience becoming increasingly apparent. As regulatory compliance improves and user education deepens, various business models and innovative scenarios emerge, making crypto payments an indispensable wave of financial innovation. In the future, when technology and applications mature, both traditional enterprises and individuals will increasingly adopt cryptocurrencies as payment options, forming a broader network effect and triggering a new round of industry upgrades.
UPCX, as a new-generation open-source payment system designed specifically for payments and financial services, boasts practical performance and scalability that can rival credit cards and mobile payments, enabling near-instant payments and settlements.
For UPCX, 2024 has been a year of continuous breakthroughs and rapid growth. The team has made significant achievements in technology, business cooperation, and community building, reinforcing its core positioning as an “open-source payment system based on high-speed blockchain technology, designed specifically for payments and financial services.” The following are the main achievements and future prospects of UPCX this year.
I. Technological Breakthroughs and Ecosystem Improvements
In 2024, UPCX achieved significant breakthroughs in technological ecosystem and functional innovation. With the official launch of the public mainnet, the UPCX wallet was also introduced. Designed specifically for payment and financial services, the wallet supports high-speed payment settlement and nearly instantaneous asset transfers. Since its launch, the number of wallet accounts created has exceeded 300,000, demonstrating strong user growth momentum.
At the core technology level, UPCX has further perfected its ecosystem layout through EVM integration, cross-chain bridges, and a referral program:
- EVM integration makes the public chain’s underlying infrastructure compatible with the Ethereum ecosystem, enabling seamless smart contract operations and significantly lowering the barrier for developers.
- Cross-chain bridges greatly simplify the process of asset transfers across networks and deepen the interaction between blockchain and traditional financial systems.
- The referral program provides a reward mechanism for community members, enhancing user loyalty and attracting new users to join.
Simultaneously, UPCX has completed the core technology development of blockchain messengers and decentralized exchanges (DEX). As an efficient, decentralized communication tool, the blockchain messenger further expands the application scenarios of blockchain; the DEX, on the other hand, gives users true control over their assets and a more flexible trading experience, making transactions secure and transparent.
To better meet diverse payment needs, UPCX invested in developing features like NFC offline payments, scheduled payments, and non-custodial services:
- NFC offline payments allow for encrypted payments even in the absence of a network, significantly enhancing UPCX’s competitiveness in the retail payment sector.
- Scheduled payment functionality enables automated, periodic payment processing, which is convenient for users in everyday and cross-border payment scenarios.
- Non-custodial services provide conveniences and security similar to custodial services while allowing users to maintain control of their private keys.
These multiple innovations in technology and ecosystem not only demonstrate UPCX’s strength in blockchain underlying technology iteration but also highlight its commitment to building an open, scalable, high-performance, and user-centric financial ecosystem.
II. Partnerships and Global Compliance Strategy
- Major Event Sponsorship: Becoming the official sponsor of the Doha 2024 and the World Aquatics Swimming World Cup 2024, the UPCX logo will appear on athletes’ bibs and official digital multimedia channels. This collaboration has significantly enhanced brand image and public awareness on a global scale.
- UPCX and VNX Commodities AG (VNX) Sign MOU: UPCX will support the issuance of stablecoins (VEUR, VCHF) and tokenized gold (VNXAU) issued by VNX on its advanced blockchain platform. Both parties will jointly promote business development and marketing activities, and deepen the compliance optimization of financial services and payment systems based on their respective technological advantages. This not only marks another milestone for UPCX in meeting global regulatory standards and pursuing full compliance but also highlights its strength in blockchain underlying technology.
- Establishing Strategic Partnership with MudAi: The two parties will explore and develop new business models in virtual asset and service transactions, bringing more room for imagination in the integration of blockchain and AI.
- Global Compliance: As global crypto regulation continues to improve, currently, about 60% of countries have established regulatory frameworks for cryptocurrencies. UPCX actively communicates with regulatory authorities in various regions, conducts compliance layouts for core requirements such as KYC/AML, and applies for necessary financial licenses or qualifications according to regional needs. In terms of data protection, to comply with laws and regulations such as the EU’s GDPR, UPCX adopts multiple security measures to ensure user privacy and data security.
