Uphold Relaunches U.S. Debit Card XRP Rewards

Cryptocurrency trading platform Uphold has relaunched its United States debit card. This relaunch is significant as it comes after over two years of discontinuing the service. According to the announcement, this card allows users to earn XRP rewards on their everyday spending. 

Uphold U.S. Debit Card Comes With Rebranding 

Undoubtedly, this move helps the exchange to strengthen its role in the cryptocurrency payment market. Furthermore, it also shows the growing interest in using Ripple’s XRP as a digital rewards currency.

With the new debit card, users can earn up to 6% back in XRP when they make purchases using U.S. dollars, stablecoins, or cryptocurrencies. It is designed for both crypto fans and regular users, making it easy to spend directly from their Uphold balance.

Additionally, clients can get an extra 4% in XRP by depositing part of their paycheck directly into their Uphold account. This will help users add Uphold to their financial routine and grow their XRP holdings. Users will also receive their rewards directly in XRP, enabling them to increase their digital assets with regular purchases.

Interestingly, Uphold’s decision signals strong support for the Ripple ecosystem and encourages the use of cryptocurrency in everyday finance. The link between XRP rewards and a debit card makes it easier to use digital assets for real-world spending, making cryptocurrency more practical and beneficial.

Uphold Crypto-Friendly Outlook

Recall that in March, Uphold reintroduced crypto staking services in the United States. The exchange cited a more favorable regulatory climate that has emerged over the past year. With this move, U.S. customers can now earn staking rewards on 19 digital assets, including Etheeum (ETH), Cosmos (COS), and others.

Rewards will be distributed weekly, paid out in the same cryptocurrency that users stake. Uphold’s decision follows a series of regulatory developments in the U.S., including the Securities and Exchange Commission dropping multiple crypto-related lawsuits. This easing stance of regulators has encouraged Uphold to re-engage with staking.

Uphold Resumes Crypto Staking in the UK

It is also worth noting that the trading platform has officially resumed its staking services in the United Kingdom. This marked a major return following a year-long suspension. Meanwhile, the decision to restart staking follows recent regulatory changes introduced by the UK Treasury, which came into effect on January 31.

Additionally, the move is a direct response to an amendment within the Financial Services and Markets Act 2000 (FSMA) that clarified the legal standing of crypto staking. Uphold CEO Simon McLoughlin expressed relief over the updated framework, stating that the platform initially halted staking due to unclear regulations.

There is no doubt that the regulatory clarification now provides “welcome certainty.” It also opens avenues for Uphold and other regulated crypto service providers to reintroduce staking services in the UK.