OpenToken was launched as the public-facing brand for the Universal Protocol Alliance, a coalition of leading blockchain and cryptocurrency companies including Uphold, Cred, Blockchain at Berkeley, and CertiK. The project's mission is to foster mainstream adoption of cryptocurrencies by enabling seamless conversion and interaction between various blockchain protocols. It achieves this by creating "proxy" tokens (e.g., Universal Bitcoin - UPBTC, Universal Euro - UPEUR) on the Ethereum blockchain that are transparently backed 1-to-1 by the underlying asset. The brand has since fully transitioned to "Universal Protocol," with its native token now known as the Universal Protocol Token (UPT).

Founded in

United States