Uphold Confirms: Earn on XRP Feature for Its Massive 1.62 Billion Token Holdings

In Brief:

• Uphold’s Earn on XRP feature could cover 1.62 billion tokens, representing nearly 1.63% of XRP’s circulating supply across global markets.
• Because XRPL lacks native staking, Uphold must use alternative yield mechanisms while explaining custody, liquidity, counterparty, and smart-contract risks clearly.
• Uphold is pursuing New York’s BitLicense as it develops a regulated earning service for XRP holders, avoiding complex third-party platforms.

 

Uphold is preparing an Earn on XRP feature that could cover 1.62 billion XRP for customers across its trading platform. According to Chief Product Officer Paul Underwood, the earning product has reached final development despite delays to its original schedule.

He explained that Uphold would release further details within several weeks, including the product’s terms and expected interest rates. The planned feature could affect a portion of XRP’s circulating supply because Uphold maintains approximately 1.62 billion customer XRP tokens.

That balance represents nearly 1.63% of circulating XRP, based on figures provided through the exchange’s official Proof of Reserves report. Moreover, the amount places Uphold among the three largest major exchanges for XRP holdings, behind Binance and South Korea’s Upbit.

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Uphold Works Around XRP’s Staking Limitations

The XRP Ledger does not support traditional staking because it operates without the proof-of-stake structure used by Ethereum and Solana. Consequently, Uphold must safely establish another method for generating returns while clearly distinguishing its offering from native blockchain staking rewards.

Possible approaches include lending services, wrapped XRP products, or decentralized finance infrastructure connected through Uphold’s partnership with Flare Network.

However, Uphold has not yet confirmed the mechanism that will support customer earnings or identified the providers involved. Therefore, the official terms must clearly explain how returns originate and identify any custody, liquidity, counterparty, or smart-contract risks involved.

Regulatory Approval Shapes Product Rollout

Besides addressing those technical requirements, Uphold is pursuing regulatory approval that could expand its services within the United States. Underwood confirmed that the company is seeking New York’s BitLicense, which establishes strict requirements for cryptocurrency businesses serving state residents.

This licensing effort indicates that Uphold is developing the earning feature with regulatory compliance and customer protections under consideration. Additionally, the service could strengthen Uphold’s relationship with XRP holders seeking returns without transferring assets into complicated third-party platforms.

However, users must review disclosures before assessing returns, regional availability, withdrawal conditions, fees, and related financial risks. The completed feature would turn Uphold’s reserves into yield-bearing holdings while keeping participating customers within one regulated platform.

Also Read: XRP Draws Strongest Interest During Bitwise Presentation to 400 Wealth Managers

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