Uphold Prepares XRP Earn Feature Covering Up to 1.62 Billion XRP
Uphold is nearing the launch of an Earn on XRP feature that could allow customers to generate returns on XRP held through the trading platform, with the service potentially covering as much as 1.62 billion XRP in customer holdings.
Uphold Chief Product Officer Paul Underwood said the product has reached the final stages of development after delays pushed back its original timeline. He said the company expects to provide additional information within several weeks, including the terms of the service and anticipated interest rates.
The scale of Uphold’s XRP holdings makes the planned product notable. The exchange holds approximately 1.62 billion XRP for customers, equivalent to nearly 1.63% of XRP’s circulating supply based on figures in Uphold’s official Proof of Reserves report.
That balance also puts Uphold among the three largest major exchanges by XRP holdings, behind Binance and South Korea-based Upbit.
Uphold’s XRP Earn Product Faces a Staking Challenge
The planned XRP earning service differs from conventional staking products available for assets such as Ethereum and Solana.
The XRP Ledger does not use a proof-of-stake consensus model and therefore does not offer traditional native staking. Uphold consequently needs to use another mechanism to generate returns for customers while making clear that those returns are not blockchain-based staking rewards.
Several structures could potentially support the service, including lending arrangements, wrapped XRP products or decentralized finance infrastructure. Uphold also has a partnership with Flare Network, which could provide another route for XRP-related yield products.
However, Uphold has not publicly confirmed which mechanism it will use or disclosed the providers that may be involved.
That leaves the final product terms particularly important for customers. Details on how the yield is generated, as well as custody, liquidity, counterparty and smart-contract risks, will need to be clearly established when Uphold releases the service information.
Regulatory Approval Could Influence the XRP Earn Rollout
Uphold is also pursuing additional regulatory approval in the United States as it expands its cryptocurrency services.
Underwood confirmed that the company is seeking a BitLicense from New York. The license imposes regulatory requirements on cryptocurrency businesses providing services to residents of the state.
The effort suggests that Uphold is taking regulatory compliance and customer protections into account as it develops the XRP earning product. If launched, the service could provide XRP holders with a way to seek returns while keeping their assets within Uphold rather than moving them to separate third-party platforms.
The eventual rollout will depend on the final product structure and applicable regulatory requirements. Customers will also need to assess the published terms, including expected returns, availability by region, withdrawal conditions, fees and associated risks.
If implemented as planned, Uphold’s Earn on XRP product would introduce a yield-generating function for a significant pool of XRP already held on its platform.
Writer: Marcus RenfieldCrypto Market Analyst & Onchain WriterMarcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.