UPCX 2024 Annual Summary: Revolutionizing the Payment Ecosystem and Embracing Global Compliance

The global acceptance of blockchain and digital assets is on the rise, with the advantages of cryptocurrency payments in terms of efficiency, cost, and cross-border convenience becoming increasingly apparent. As regulatory compliance improves and user education deepens, various business models and innovative scenarios emerge, making crypto payments an indispensable wave of financial innovation. In the future, when technology and applications mature, both traditional enterprises and individuals will increasingly adopt cryptocurrencies as payment options, forming a broader network effect and triggering a new round of industry upgrades.

UPCX, as a new-generation open-source payment system designed specifically for payments and financial services, boasts practical performance and scalability that can rival credit cards and mobile payments, enabling near-instant payments and settlements.

For UPCX, 2024 has been a year of continuous breakthroughs and rapid growth. The team has made significant achievements in technology, business cooperation, and community building, reinforcing its core positioning as an “open-source payment system based on high-speed blockchain technology, designed specifically for payments and financial services.” The following are the main achievements and future prospects of UPCX this year.

I. Technological Breakthroughs and Ecosystem Improvements

In 2024, UPCX achieved significant breakthroughs in technological ecosystem and functional innovation. With the official launch of the public mainnet, the UPCX wallet was also introduced. Designed specifically for payment and financial services, the wallet supports high-speed payment settlement and nearly instantaneous asset transfers. Since its launch, the number of wallet accounts created has exceeded 300,000, demonstrating strong user growth momentum.

At the core technology level, UPCX has further perfected its ecosystem layout through EVM integration, cross-chain bridges, and a referral program:

1. EVM integration makes the public chain’s underlying infrastructure compatible with the Ethereum ecosystem, enabling seamless smart contract operations and significantly lowering the barrier for developers.
2. Cross-chain bridges greatly simplify the process of asset transfers across networks and deepen the interaction between blockchain and traditional financial systems.
3. The referral program provides a reward mechanism for community members, enhancing user loyalty and attracting new users to join.

Simultaneously, UPCX has completed the core technology development of blockchain messengers and decentralized exchanges (DEX). As an efficient, decentralized communication tool, the blockchain messenger further expands the application scenarios of blockchain; the DEX, on the other hand, gives users true control over their assets and a more flexible trading experience, making transactions secure and transparent.

To better meet diverse payment needs, UPCX invested in developing features like NFC offline payments, scheduled payments, and non-custodial services:

1. NFC offline payments allow for encrypted payments even in the absence of a network, significantly enhancing UPCX’s competitiveness in the retail payment sector.
2. Scheduled payment functionality enables automated, periodic payment processing, which is convenient for users in everyday and cross-border payment scenarios.
3. Non-custodial services provide conveniences and security similar to custodial services while allowing users to maintain control of their private keys.

These multiple innovations in technology and ecosystem not only demonstrate UPCX’s strength in blockchain underlying technology iteration but also highlight its commitment to building an open, scalable, high-performance, and user-centric financial ecosystem.

II. Partnerships and Global Compliance Strategy

1. Major Event Sponsorship: Becoming the official sponsor of the Doha 2024 and the World Aquatics Swimming World Cup 2024, the UPCX logo will appear on athletes’ bibs and official digital multimedia channels. This collaboration has significantly enhanced brand image and public awareness on a global scale.
2. UPCX and VNX Commodities AG (VNX) Sign MOU: UPCX will support the issuance of stablecoins (VEUR, VCHF) and tokenized gold (VNXAU) issued by VNX on its advanced blockchain platform. Both parties will jointly promote business development and marketing activities, and deepen the compliance optimization of financial services and payment systems based on their respective technological advantages. This not only marks another milestone for UPCX in meeting global regulatory standards and pursuing full compliance but also highlights its strength in blockchain underlying technology.
3. Establishing Strategic Partnership with MudAi: The two parties will explore and develop new business models in virtual asset and service transactions, bringing more room for imagination in the integration of blockchain and AI.
4. Global Compliance:As global crypto regulation continues to improve, currently, about 60% of countries have established regulatory frameworks for cryptocurrencies. UPCX actively communicates with regulatory authorities in various regions, conducts compliance layouts for core requirements such as KYC/AML, and applies for necessary financial licenses or qualifications according to regional needs. In terms of data protection, to comply with laws and regulations such as the EU’s GDPR, UPCX adopts multiple security measures to ensure user privacy and data security.

III. Community Development and Market Performance

1. Global Community Size Surpasses 300,000: Facing the growing demand for blockchain applications, the UPCX community continues to expand in Southeast Asia, Europe, America, Vietnam, Indonesia, India, Russia, Turkey, and other regions, with a broader and more diverse user base.
2. Token Listed on Multiple Exchanges:The UPCX native token ($UPC) has been successively listed on mainstream trading platforms such as MEXC, Bitget, Gate.io, LBank, WEEX, and TRIV, with the number of token-holding addresses now exceeding 59,000. The current circulating market cap of $UPC has reached $180 million, with the highest price reaching $5, a 20-fold increase compared to last year’s opening price of $0.25, bringing considerable investment returns to token holders.
3. UPCX Official Staking Platform:The number of tokens staked by users has exceeded 290,000, demonstrating the community’s high trust and stickiness to the UPCX ecosystem, and providing important support for the project’s security and decentralization.
4. UPCX 2025 Plan and Challenges Ahead

On the technical level, UPCX will build an all-round blockchain from the underlying consensus to the application ecosystem through multiple initiatives. It will continue to focus on the Limitless module to improve network scalability, the Staking (DPoS) mechanism to strengthen network security and community governance, APIs/SDKs to provide convenience for developers, the DEX Order Book to ensure the efficiency of decentralized transactions, the Worker module to enhance processing capabilities, the UPCX POS App to cover physical payments, the hardware wallet to enhance asset security, and post-quantum (PQC) encryption technology to resist future quantum computing threats. The iteration and integration of these features will bring significant improvements to industry-level application implementation and personal user experience.

However, the compliance process is a challenge that UPCX must face head-on. Approximately 60% of countries worldwide have developed corresponding regulatory measures for cryptocurrencies. UPCX needs to comply with regulatory requirements, including KYC and AML, and obtain necessary permits according to the legal requirements of different regions, such as MSB registration in the United States and electronic money licenses in the European Union. At the same time, compliance solutions for data protection provided by over 70% of countries are also crucial. UPCX needs to adopt advanced encryption technologies and source security measures to address regional regulations such as the EU’s GDPR (General Data Protection Regulation), avoiding legal risks and building user trust.

In terms of global promotion, UPCX must overcome users’ unfamiliarity with blockchain technology. Through online seminars, video tutorials, offline events, and community operations, UPCX is committed to helping more people understand and use its technology. Localized support and multilingual services based on the cultural and market characteristics of each region are also vital. With communities spanning Southeast Asia, Europe, America, Vietnam, Indonesia, India, Russia, Turkey, and other regions, UPCX will continually conduct market research and provide region-specific features (such as support for local currencies and payment methods) to enhance local user acceptance. Timely response to user feedback and product strategy adjustments can not only deepen brand awareness but also gain a first-mover advantage in the highly competitive international market.

1. Outlook and Conclusion

Looking back on 2024, UPCX has gradually become a trusted blockchain payment and financial service platform through multidimensional technological innovation, steady progress in global compliance, and cooperation with internationally renowned enterprises and institutions. As we enter a new year, UPCX will continue to focus on underlying blockchain research and development, expand more payment and financial application scenarios, and provide safer, more efficient, and diversified financial ecosystem services to global users.

Looking to the future, the rapid development of the crypto payment market is bound to generate more new business models and technological changes. With its superior technical performance, open development environment, and compliance-first principles, UPCX will work hand in hand with the community and partners to usher in a new era of blockchain payments.