Partnerships / Acquisitions

Digital Money Platform Uphold Acquires JNK Securities

Digital money platform Uphold announced that it has reached an agreement to acquire New York Stock Exchange member JNK Securities Corp.

If the deal is finalized, Uphold’s compliance footprint will be expanded, as well as its customer base and service offering. The acquisition will also offer JNK clients access to all of Uphold’s crypto to fiat trading pairs and assets.

“We have kept a close eye on statements from global regulators regarding virtual currencies and tokens and believe that many crypto assets (particularly ICO tokens) may be treated as securities in some cases,” said Adrian Steckel, CEO of Uphold, which has powered more than $3 billion in transactions across 184 countries in more than 30 supported currencies and four commodities. “Broker-dealer and ATS coverage is key to protecting our customers and to building a preeminent financial services ecosystem. We are proud to be a compliant financial services company, working with regulators to ensure we provide the most trusted and transparent access to digital financial services worldwide.”

Uphold is the creator of an open, transparent digital money platform that allows users to quickly and safely access traditional currencies, cryptocurrencies and other investments in one place.

Through Uphold’s new securities division, the platform could offer sales and trading of ICO tokens and fractional equities — as well as provide other exchange services — under the oversight of the SEC and FINRA.

“In its 25-year history, JNK has continued to evolve with the financial markets. We are excited to become part of Uphold’s vision for the future of digital capital formation, while continuing to offer our acclaimed industry research to our institutional customers,” said Scott Kaplan, CEO of JNK Securities Corp.

With this acquisition, Uphold will boost its compliance and regulatory policies and practices. The company has global operations in Braga, London, Los Angeles, Mexico City, and San Francisco.

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