TLDR
- Uphold’s XRP debit card offers 6% cashback on purchases for U.S. users.
- Gemini launched an XRP credit card offering up to 4% cashback in XRP.
- Ripple’s legal victory over the SEC boosts XRP adoption for payment products.
- Uphold reinstates staking rewards for 19 cryptocurrencies in the U.S.
Uphold has reintroduced its XRP debit card across the United States, offering users the ability to spend over 300 cryptocurrencies at any Visa-accepting location. The card’s return follows Ripple’s resolution of its legal dispute with the U.S. Securities and Exchange Commission (SEC). This move aligns Uphold with other companies like Gemini, which launched its own XRP-focused credit card earlier this year. The relaunch marks a significant milestone in the growing trend of crypto payment solutions.
Uphold’s XRP Debit Card Returns to Market
In a recent announcement, Uphold confirmed that it is bringing back its XRP debit card for U.S. consumers. After a pause due to regulatory challenges linked to Ripple’s legal battles, the card is now available once again. The reintroduction of the card allows users to spend more than 300 cryptocurrencies, including XRP, at any location that accepts Visa payments. Customers can also earn up to 6% cashback in XRP on all eligible purchases, providing more utility for cryptocurrency holders.
Uphold’s decision to bring back the XRP debit card highlights its commitment to the XRP community. The company had previously suspended the card in March 2023 due to the uncertainty surrounding Ripple’s lawsuit with the SEC.
However, Uphold chose to continue supporting XRP during this time, distinguishing itself from other exchanges that delisted the token. This decision earned Uphold the loyalty of XRP holders, who now have access to a product that integrates their cryptocurrency into everyday spending.
Gemini Launches XRP Credit Card in August
Uphold’s move follows the launch of the XRP edition of the Gemini Credit Card earlier this year. Gemini introduced this card in August, offering up to 4% cashback in XRP for purchases related to gas, EV charging, and rideshares. Cardholders can also earn 3% back on dining, 2% on groceries, and 1% on other purchases. Additionally, Gemini has partnered with select merchants, offering up to 10% back on qualifying purchases for all Gemini Credit Card holders.
The XRP edition of the Gemini Credit Card is part of the platform’s broader strategy to enhance its crypto offerings. Tyler Winklevoss, co-founder and CEO of Gemini, emphasized the card’s role in connecting users with the growing utility of XRP, saying, “By introducing a special XRP edition of the Gemini Credit Card, we’re giving customers new ways to earn XRP and express their passion and loyalty.”
Impact of Ripple’s Legal Resolution on Crypto Payment Solutions
The relaunch of the XRP debit card by Uphold and the new XRP-focused credit card by Gemini both come after Ripple’s legal victory over the SEC. The legal resolution has opened the door for increased adoption of XRP and other digital assets in the payments industry.
Brad Garlinghouse, CEO of Ripple, noted that the growing number of crypto users in the U.S. is driving demand for more accessible payment solutions. “Fifty-five million Americans own crypto, and that number is only increasing as more people look for easier ways to access and use it in their daily lives,” Garlinghouse said.
Ripple’s victory in its legal dispute with the SEC has played a significant role in strengthening the legitimacy of XRP and other cryptocurrencies in the U.S. market. This shift has made it easier for companies like Uphold and Gemini to introduce products that bridge the gap between traditional finance and digital assets. As the adoption of crypto payment solutions grows, these companies are positioning themselves to meet the demand for more practical and usable cryptocurrency offerings.
Uphold’s Expanding Crypto Services in the U.S.
Along with the relaunch of the XRP debit card, Uphold is expanding its services for U.S. customers. The company has reinstated staking rewards for 19 digital assets, including popular cryptocurrencies like Ethereum, Solana, and NEAR. These moves are part of Uphold’s broader efforts to increase the utility and appeal of its platform for crypto users in the United States.
In addition to its debit card offering, Uphold’s platform provides access to a wide range of cryptocurrency services. The company continues to focus on providing customers with easy access to both traditional and digital currencies, making it easier to buy, sell, and use crypto assets in daily life.
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