SAN FRANCISCO, Dec. 16, 2024 (GLOBE NEWSWIRE) — Maintainedthe Web3 financial platform, will make RLUSD, Ripple’s new US dollar-backed stablecoin, fully available on its platform on December 18th. Uphold will also integrate RLUSD into its innovative Rewards Center program starting January 2025, allowing users to earn rewards for buying and holding RLUSD. Current Uphold Rewards Center users who have unlocked all three tiers will receive 24-hour advance access to RLUSD.

Issued under the New York Trust Company Charter and approved by the New York Department of Financial Services, RLUSD is designed for trust and transparency. Each token is backed 1:1 by USD reserves and cash equivalents, with third-party audits conducted monthly. Like XRP, RLUSD is designed for cross-border and institutional use and features enterprise-grade security, with the stablecoin’s smart contracts subject to independent audits.

“It’s no secret that we are big supporters of the XRP community and the innovations that Ripple has brought to the industry,” says Simon McLoughlin, CEO of Uphold. “RLUSD is poised to play an important role in the development of digital payments, corporate finance and beyond, and we are proud to be among the early launch partners of Ripple’s first-ever stablecoin solution.”

Once RLUSD integrates with the Uphold Rewards Center in January, users will be able to unlock a range of benefits including 5% rewards on the Ripple stablecoin, access to exclusive crypto insights, and early access to new tokens. Users unlock rewards by completing monthly tasks in the Uphold app, including visiting the app, depositing assets, and executing trades.

McLoughlin added: “By adding RLUSD to the Uphold Rewards Center, we can provide additional value to the XRP community when they hold RLUSD in their Uphold wallet.”

About Uphold
Ranked #1 on the San Francisco Business Times Fast 100 list, Uphold is committed to making web3 easy. As a web3 financial platform, Uphold serves millions of customers in more than 140 countries. It allows businesses and consumers easy access to digital assets and services. Uniquely, Uphold intelligently routes orders across 30 trading venues, providing customers with optimal execution and superior liquidity. Uphold never lends client assets and is always 100% reserved. The company has pioneered radical transparency, uniquely publishing its assets and liabilities on a public website every 30 seconds (https://uphold.com/en-us/transparency).

Uphold is regulated in the US by FinCen and state regulators; and is registered with the FCA and FINTRAC respectively in the United Kingdom and Canada and with the Financial Crime Investigation Service of the Ministry of Interior of the Republic of Lithuania in Europe. To learn more about Uphold’s products and services, visit uphold.com.

For more information, see uphold.com.

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