Uphold has returned to the U.S. debit card market after a two-year pause, introducing a card that includes crypto rewards. Users can earn up to 6% in XRP for everyday purchases made with dollars, crypto, or stablecoins.
Those who choose to deposit part of their paycheck into their Uphold account can receive an extra 4% in XRP rewards, bringing total possible earnings to 10%. Uphold says the new card allows users to spend their digital assets more easily by converting crypto to cash during transactions.
Uphold also offers borrowing options using XRP, ETH, BTC, or USDC stablecoin as collateral. Borrowed funds can then be used immediately through a Visa card, giving users access to liquidity without selling their crypto holdings.
Strong focus on the XRP community
Uphold executives said the relaunch is designed specifically for its XRP-focused community. “We’ve had a debit card but we’re bringing a debit card back,” said Nancy Beaton, President of Uphold U.S. and Chief Revenue and Marketing Officer. She added, “We have a really high concentration of XRP holders in our community.”
CEO Simon McLoughlin emphasized the firm’s commitment, saying, “The Uphold Debit Card does that better than any other card in the market. Unlike competitors, our card gives users up to 6% XRP back on all everyday purchases, not just for specific categories.”
The debit card, unveiled at XRP Las Vegas in May, is now officially available through the Uphold app. Customers in the U.K. already enjoy similar access. Furthermore, Uphold continues to expand its financial ecosystem after reinstating staking rewards for 19 assets earlier this year, including Ethereum and Solana.
Strategic partnerships and market position
In August, Uphold deepened its U.S. reach by integrating PayPal for instant wallet funding. This move simplified crypto purchases for users and improved accessibility. “Uphold aims to make digital finance more accessible and user friendly,” McLoughlin noted.
Uphold’s new XRP rewards card makes it easier for people to use crypto in daily life while showing strong support for the XRP community. Consequently, the company now competes more closely with firms like Gemini, which recently launched a Solana rewards credit card.
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