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- Uphold launches XRP staking via Flare Network, introducing smart contract and DeFi capabilities to XRP.
- XRP holders gain access to passive income opportunities through staking and future DeFi services.
- Flare Network’s growing adoption and liquidity support XRP’s entry into on-chain financial services.
XRP holders and the broader crypto community, Uphold, the multi-asset trading platform, has announced a new strategic direction aimed at unlocking decentralized finance (DeFi) opportunities for XRP. The move signals a transformative shift for a digital asset that has long operated outside the rapidly evolving DeFi landscape.
On Friday, Uphold took to social media platform X to share that it is currently piloting staking capabilities for XRP through the Flare Network, a smart contract platform known for its interoperability and recent surge in adoption. This beta-testing phase could pave the way for XRP to finally enter the realm of smart contracts and on-chain yield generation features that have traditionally been absent from its ecosystem.
“Welcome to the world of smart contracts and DeFi opportunities, #XRPArmy,” Uphold posted, teasing the community with the promise of a new DeFi frontier.
The timing is no coincidence. The Flare Network has recently seen its total value locked (TVL) climb, spurred by the rollout of USDT0, a cross-chain variant of Tether’s USDT. With growing liquidity and enhanced infrastructure, Flare positions itself as a critical player enabling token participation.
It allows previously non-DeFi-native tokens like XRP to engage in various on-chain financial services seamlessly.
XRP Gets Staking and Spending Power with Uphold
Uphold’s move represents more than just an upgrade in staking capabilities; it’s a gateway to broader financial utility. XRP, historically used for cross-border payments, may now gain access to passive income streams through staking, lending, or liquidity provisioning within the Flare ecosystem. But the updates don’t stop there.
Moreover, in parallel with its DeFi push, Uphold also revealed plans to relaunch its crypto debit card in the United States. Previously available only to users in the United Kingdom, the upcoming U.S. rollout will feature both physical and virtual card options. These will allow users to spend digital assets from their Uphold wallets in everyday transactions. This edition aims to bridge the gap between crypto and real-world usability, bringing tangible utility to asset holders.
Together, these developments mark a strategic expansion of Uphold’s product suite. By integrating staking for XRP and extending crypto spending through its debit card, the company targets growth. They aim for a future where digital assets earn, grow, and are used seamlessly within one unified platform
For XRP enthusiasts and the broader crypto market, this could be the beginning of a new era. It is one where legacy tokens find new life in decentralized finance.
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