Bitreserve expands its platform to include seven additional local currencies

Bitreserve uses the concept of “cloud money” that allows users to convert currencies and send funds in bitcoin to any currency bank card. One of the company’s key goals is transparency. All transactions can be verified through the start-up’s public Reserveledge and Reservechain. In March, Bitreserve also launched avisualisation website, which displays data in real time: amounts kept in different currencies, location of clients, and direction of money transfers.

Uphold (formerly bitreserve) :
Blogpost on proof of solvency.
Doesnt look too bright.