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Top U.S. Exchange Plans to Integrate VeChain as Interest in the Crypto Sector Rises

Damien Fisher Crypto Journalist Author expertise
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In a recent development within the cryptocurrency space, a leading U.S. exchange, Uphold, is reportedly considering the integration of VeChain (VET) into its platform. The upcoming move is due to the surging interest in the blockchain project.

Sources suggest that the exchange’s consideration comes on the heels of a significant uptick in transactional activities related to VeChain.

The crypto asset has recently recorded a remarkable price surge of over 50% within a week, catching the attention of industry players and investors alike.

Uphold Takes Advantage of Heightened Interest in VeChain

Head of Research at Uphold, Martin Hiesboeck, hinted at the possibility of VeChain’s integration, emphasizing its importance in the supply chain management sector.

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Hiesboeck noted that Uphold has witnessed a notable increase in VET-related transactions, aligning with the cryptocurrency’s impressive price performance.

Notably, the blockchain platform VeChain, dedicated to optimizing supply chain management and business processes, has garnered attention for its transparent and secure solutions. 

These features are known to track product lifecycles, combat counterfeiting, and ensure quality assurance across diverse industries.

In his X post, Hiesboeck highlighted that blockchain projects like VeChain, focused on practical applications, are gaining prominence as regulatory frameworks gain clarity.

While VeChain operates as a blockchain platform, it has introduced two digital assets, VeChain Token (VET) and VeChainThor Energy (VTHO). 

VET is the primary medium for value transfer, while VTHO fuels smart contract transactions. VTHO has shown even more substantial gains than VET, surging over 111% within the past seven days.

As the crypto market continues to evolve, the potential integration of VeChain into a leading U.S. exchange highlights the industry’s recognition of innovative blockchain solutions, particularly those addressing real-world challenges in supply chain management.

Uphold Plans to Release New Product

Added to the integration of VeChain, Uphold revealed plans in December 2023 to release its state-of-the-art assisted self-custody solution known as Vault. This new product aims to improve digital asset self-custody’s security and user experience.

The beta release is scheduled for early 2024, initially focusing on offering a simplified self-custody solution for XRP. Meanwhile, expansion to include Bitcoin support is anticipated in the first quarter of 2024, adding to Uphold’s extensive customer base exceeding 10 million users.

Having facilitated over $4 billion in global transactions since its establishment in 2015, Uphold’s introduction of Vault becomes a strategic response to the escalating concerns surrounding exchanges’ vulnerabilities. 

This move reflects a broader industry shift towards more secure alternatives for managing digital assets.

Also, in another move to ensure the security of digital assets management, Safe has announced a collaborative effort with Signum and Coincover to provide users with an optional crypto recovery service. 

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Damien Fisher Crypto Journalist

Damien Fisher Crypto Journalist

Damien Fisher is a seasoned crypto news writer with a relentless curiosity for blockchain technology and cryptocurrencies. With a career spanning over a decade, Damien has solidified his position as a trusted authority in the industry. Besides contributing insightful articles to TechReport, he also lends his expertise to reputable sites like Invezz and CryptoCoin.News. Through his work, Damien continues to provide valuable information to readers, keeping them informed about the latest developments and trends in the ever-evolving world of cryptocurrencies. His passion for the subject and dedication to accuracy make him a standout figure in the crypto news space.

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