Uphold is a digital financial platform renowned for its crypto-friendly services. The company announced on May 30, 2025 that it is exploring ways to unlock earnings for XRP, including conducting staking tests through the Flare network.
The Flare network is a Layer 1 blockchain compatible with the Ethereum virtual machine, designed to enhance cross-chain interoperability and data accessibility. Recently, with the launch of the full-chain version of the USDT stablecoin USDT₀ on this blockchain, the total locked value of the Flare network has soared significantly. By leveraging Flare’s smart contract functionality, it is possible to open the door to new on-chain financial tools for XRP, as XRP traditionally lacks native staking or smart contract support.
In addition, Uphold has also revealed plans to reintroduce its encrypted debit cards in the United States. This debit card is currently only available in the UK. After its relaunch, it will be provided to US users in both physical and virtual forms, enabling them to directly use the digital assets stored in the Uphold wallet for daily payments.
In March this year, Uphold resumed staking rewards for 19 different digital assets for US customers, including Ethereum, Solana and Near, etc. Uphold’s CEO, Simon McLaughlin, said at the time that staking is an important part of blockchain governance and the on-chain economy, and users should be able to support this activity and benefit from it.
Uphold also announced that it will offer a “Direct Deposit with rewards” service to US users through the new “Direct Salary Deposit Feature”. Users can receive up to 4% XRP cashback and 5% Ripple Dollar (RL USD) rewards in eligible transactions. Ripple Dollar is Ripple’s stablecoin pegged to the US dollar.
Uphold’s series of initiatives demonstrate its commitment to deepening ecosystem services for XRP holders and a broader range of crypto users, integrating revenue generation with practical applications to enhance its competitiveness and user experience in the ever-changing cryptocurrency market.
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