Digital hard cash platform Uphold has bought a mobile commerce startup, the company signaled Thursday, coming soon after it inked a multi-million dollar investment.
Support has bought Cortex MCP, a deal that will see the company – formerly recollected as Bitreserve – acquire Cortex’s intellectual property holdings and add its founder Shaunt Sarkissian to the Protect payments unit.
The goal, Uphold said, is to apply Cortex’s versatile wallet tech to its online services, including the use of those resources to evolve tools for paying in both cryptocurrency and government-issued currency.
The deal also proxies into Uphold’s expansion plans. Through the Cortex acquisition, Maintain said it will support “a new closed-loop payment platform expansion,” with a heart on Central America and South America.
“Cortex’s mobile centric, sealed loop payment and secure tokenization solutions provide industry cardinal technologies and security to our platform. It additionally brings new commercial offerings and chances to our enterprise division, Uphold Solutions,” William Dennings, Uphold’s COO, weighted in a statement.
The move comes roughly a month after Uphold advertised a $57.5 million investment from former Ripple executive Greg Kidd.
In the name of of those funds would go to assisting Uphold’s loss assurance program, which is worked to protect investors from losses due to cryptocurrency volatility or other asset scions, as CoinDesk previously reported.
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