AP NEWS

CORRECTING and REPLACING Uphold Promotes Visionary Co-Founder JP Thieriot to CEO as OneWeb Taps Former CEO, Adrian Steckel

September 9, 2018

SAN FRANCISCO--(BUSINESS WIRE)--Sep 9, 2018--Please replace the release dated September 07, 2018 with the following corrected version due to multiple revisions.

The corrected release reads:

UPHOLD PROMOTES VISIONARY CO-FOUNDER JP THIERIOT TO CEO AS ONEWEB TAPS FORMER CEO, ADRIAN STECKEL

Uphold, a leading global digital money platform that has powered more than $3.5 billion in transactions across 184 countries, announced today that JP Thieriot, Co-Founder and Vice Chairman of the company, has been appointed CEO by its Board of Directors.

Former CEO Adrian Steckel has accepted the role of CEO of OneWeb, which is building the world’s largest, satellite-based broadband network to connect the unconnected. Mr. Steckel remains Chairman of Uphold. OneWeb will provide affordable internet access to people everywhere through a constellation of low earth orbit satellites and has secured more than $2B in funding led by Softbank.

“There are remarkable similarities between Uphold’s mission of opening up access to next-generation financial services to everyone with a networked device, and OneWeb’s mission of bringing broadband connectivity to everyone, in every corner of the planet,” said Mr. Thieriot.

“Adrian has done a remarkable job since joining Uphold two years ago and has overseen a period of transformational growth. We’re very proud of his achievements and the strategic vision he has brought to the company. I’m sure he’ll be equally successful at OneWeb.”

The leadership succession comes after two years of rapid growth at Uphold. The blockchain-powered platform has become recognized for offering the widest range of cryptocurrencies and the best connectivity with legacy financial systems in its peer group. These attributes have made Uphold a popular choice for retail users worldwide seeking to move funds seamlessly between conventional currencies and cryptocurrencies.

“The key to Uphold’s success is bringing transparency and trust to the cryptocurrency space and acting as a ‘bridge’ between decentralized blockchain networks and traditional financial systems,” explained Mr. Thieriot.

In 2018, a record year commercially for the company, Uphold has posted a string of major achievements as the first major platform to offer XRP and one of the first cryptocurrency companies to reach an agreement to acquire a U.S. broker-dealer and file an application for approval of the change of control and business expansion with FINRA.

About Uphold:

Uphold is the creator of an open, trusted and transparent digital money platform that lets you quickly and safely access traditional currencies, cryptocurrencies, and other investments all in one place. Uphold has powered more than $3.5 billion in transactions across 184 countries, in more than 30 supported currencies and four commodities.

The Uphold platform provides access to the widest range of currencies and investments available in one place, with transparency and security. Uphold is the only company to publish real-time reserve holdings, providing its members with the necessary information to make informed decisions. Uphold has global operations in San Francisco, Los Angeles, Braga, London and Mexico City. More information can be found at www.uphold.com, or follow us on  TwitterFacebook, and  LinkedIn.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180907005059/en/

CONTACT: Communications for Uphold

Crystal Yang, 415-593-1999

uphold@grayling.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT INTERNET SOFTWARE PROFESSIONAL SERVICES ACCOUNTING BANKING FINANCE

SOURCE: Uphold

Copyright Business Wire 2018.

PUB: 09/09/2018 02:53 PM/DISC: 09/09/2018 02:53 PM

http://www.businesswire.com/news/home/20180907005059/en

AP RADIO
Update hourly