1-6-2025 – Uphold, a prominent US-based cryptocurrency exchange, has unveiled plans to introduce a yield-earning mechanism for XRP holders, a development that marks a significant evolution for a token traditionally confined to payment and transfer functions. Unlike Ethereum and other proof-of-stake cryptocurrencies, XRP’s consensus mechanism does not support conventional staking. However, through a strategic alliance with Flare Network, Uphold is poised to transcend this limitation, opening up new avenues for XRP within the realm of decentralised finance (DeFi).
The collaboration with Flare, a smart contract platform compatible with the Ethereum Virtual Machine, leverages FAssets—wrapped versions of assets like XRP, known as FXRP. This innovation enables XRP holders to engage with Flare’s ecosystem, unlocking opportunities to generate rewards through staking or other DeFi protocols. Uphold has already initiated trials for this feature and, in a recent announcement on X, invited the XRP community to gear up for an imminent beta launch. This move signals a transformative shift, positioning XRP as a contender in the burgeoning “XRPFi” ecosystem, as Flare has termed it, which aims to build a robust DeFi framework around the token.
The anticipation surrounding this yield-generating feature is palpable, as it promises XRP holders the ability to earn returns without relinquishing their tokens or migrating to alternative blockchains. This development not only enhances XRP’s versatility but also reinforces Uphold’s reputation as a steadfast supporter of the token, particularly during its protracted legal tussle with the SEC. The exchange’s commitment to XRP is further evidenced by a new initiative targeting US users: the Direct Salary Deposit programme. From June 2 to September 1, 2025, individuals depositing at least $250 of their salary via Uphold will receive a 4% bonus in XRP, a move designed to incentivise engagement with the token.
