Uphold, a leading Web3 financial platform, has confirmed that Ripple’s new USD-backed stablecoin, RLUSD, will be fully accessible on its platform starting Dec. 18. In addition to its launch, RLUSD will be integrated into Uphold’s Rewards Center program in January 2025, enabling users to earn incentives for holding the stablecoin.

Simon McLoughlin, CEO of Uphold, highlighted the company’s enthusiasm for Ripple’s innovation, stating:

It’s no secret that we’ve been big supporters of the XRP community, and the innovation Ripple has brought to the industry.

“RLUSD is poised to play a significant role in the evolution of digital payments, enterprise finance, and beyond, and we are proud to be among the initial launch partners of Ripple’s first-ever stablecoin solution,” he added.

Ripple’s RLUSD is issued under the New York Trust Company Charter and has been approved by the New York Department of Financial Services (NYDFS). The stablecoin is backed 1:1 by USD reserves and cash equivalents, with third-party audits conducted monthly to ensure transparency. Designed for institutional and cross-border use, RLUSD features enterprise-grade security, and its smart contracts have undergone independent audits.

McLoughlin expressed confidence in the project’s value to Uphold users, stating:

By adding RLUSD to the Uphold Rewards Center, we’re able to offer the XRP community additional value when they hold RLUSD in their Uphold wallet.

The integration into the Rewards Center will offer Uphold users several benefits, including 5% rewards on RLUSD holdings, access to exclusive cryptocurrency insights, and early access to new tokens. Rewards are earned by completing tasks on the Uphold app, such as visiting the platform, depositing assets, and executing trades. Users who have already unlocked all three levels in the Rewards Center will receive a 24-hour early access period to RLUSD before it is widely available. McLoughlin described the initiative as part of Uphold’s broader strategy to enhance user engagement and create tangible benefits for the XRP community.

Uphold serves over 140 countries and is noted for its transparency, publishing real-time updates on its reserves and liabilities every 30 seconds. The platform remains committed to safeguarding customer assets, ensuring reliability in the rapidly evolving digital asset industry.

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