Uphold and Flare Unlock DeFi Staking for XRP Holders
- XRP holders can now stake tokens and earn through DeFi tools.
- Flare’s FAssets enables smart contract interaction for XRP.
- Uphold plans to expand its crypto debit card to the US market.
In a major development for the XRP community, Uphold, a well-known crypto trading platform, has partnered with Flare Networks to launch a new DeFi staking feature for XRP holders. This initiative allows users to stake their XRP coins, essentially lending them to the network in return for potential rewards. The program is currently in its beta testing phase.
This feature is powered by Flare’s FAssets tool, which helps bring non-smart contract tokens like XRP into the decentralized finance ecosystem. By using FAssets, XRP holders can now interact with smart contracts, opening the door to new financial tools and opportunities, all while retaining ownership of their tokens.
XRP Meets DeFi in ‘XRPFi’ Push
The announcement was made by an X post (previously Twitter), giving the XRP community a quick lift. The move is perceived to be in tandem with a bigger trend called “XRPFi,” a push toward increasing the capabilities of the XRP Ledger through DeFi integrations. Uphold hopes to make modern financial applications available to holders of XRP, apart from XRP’s traditional use in providing cross-border payments..
By enabling staking for XRP, users will have the chance to earn passive income while supporting the network. This could be a significant upgrade for long-time XRP holders, especially those in the XRP Army who have been waiting for expanded token utility.
Beyond Staking: Uphold Eyes US Debit Card Expansion
Besides the DeFi collaboration, Uphold has also declared the launch of its crypto debit card in the United States. The card has been operational in the United Kingdom, allowing users to spend cryptocurrencies straight from their Uphold wallets, both virtually and physically. Having this will simplify their daily cryptocurrency use and could help engage more users on the platform.
The partnership with Flare and the launch of DeFi facilities coincide with the company’s efforts to expand its reach worldwide and enhance its financial products. Because Flare Networks provides smart contracts, this partnership enhances use cases for XRP in the burgeoning landscape of Web3 and decentralized applications.
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Uphold and Flare Unlock DeFi Staking for XRP Holders
- XRP holders can now stake tokens and earn through DeFi tools.
- Flare’s FAssets enables smart contract interaction for XRP.
- Uphold plans to expand its crypto debit card to the US market.
In a major development for the XRP community, Uphold, a well-known crypto trading platform, has partnered with Flare Networks to launch a new DeFi staking feature for XRP holders. This initiative allows users to stake their XRP coins, essentially lending them to the network in return for potential rewards. The program is currently in its beta testing phase.
This feature is powered by Flare’s FAssets tool, which helps bring non-smart contract tokens like XRP into the decentralized finance ecosystem. By using FAssets, XRP holders can now interact with smart contracts, opening the door to new financial tools and opportunities, all while retaining ownership of their tokens.
XRP Meets DeFi in ‘XRPFi’ Push
The announcement was made by an X post (previously Twitter), giving the XRP community a quick lift. The move is perceived to be in tandem with a bigger trend called “XRPFi,” a push toward increasing the capabilities of the XRP Ledger through DeFi integrations. Uphold hopes to make modern financial applications available to holders of XRP, apart from XRP’s traditional use in providing cross-border payments..
By enabling staking for XRP, users will have the chance to earn passive income while supporting the network. This could be a significant upgrade for long-time XRP holders, especially those in the XRP Army who have been waiting for expanded token utility.
Beyond Staking: Uphold Eyes US Debit Card Expansion
Besides the DeFi collaboration, Uphold has also declared the launch of its crypto debit card in the United States. The card has been operational in the United Kingdom, allowing users to spend cryptocurrencies straight from their Uphold wallets, both virtually and physically. Having this will simplify their daily cryptocurrency use and could help engage more users on the platform.
The partnership with Flare and the launch of DeFi facilities coincide with the company’s efforts to expand its reach worldwide and enhance its financial products. Because Flare Networks provides smart contracts, this partnership enhances use cases for XRP in the burgeoning landscape of Web3 and decentralized applications.
Highlighted Crypto News Today:
SEC’s Hester Peirce Says Memecoins Like $TRUMP Are Unregulated
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