Ripple’s highly anticipated USD-backed stablecoin, RLUSD, has officially launched on Uphold, a prominent Web3 financial platform. Starting December 18, RLUSD will be fully accessible to Uphold users, offering exclusive rewards and strengthening Ripple’s position in digital payments.
RLUSD Debuts on Uphold With Rewards Integration
Uphold has also announced that RLUSD will be integrated into its Rewards Center program beginning January 2025. This integration will allow users to earn incentives for holding the stablecoin, further enhancing its utility and appeal.
Simon McLoughlin, CEO of Uphold, highlighted the importance of RLUSD’s launch:
“RLUSD is set to transform digital payments, enterprise finance, and beyond. We are proud to partner with Ripple as one of the first platforms to support their groundbreaking stablecoin.”
RLUSD: A Stablecoin Backed by Trust and Transparency
Ripple’s RLUSD is issued under the New York Trust Company Charter and approved by the New York Department of Financial Services (NYDFS). It is backed 1:1 by USD reserves and cash equivalents, with monthly third-party audits ensuring full transparency.
Built for institutional and cross-border applications, RLUSD offers enterprise-grade security, and its smart contracts have undergone rigorous independent audits to guarantee reliability.
Exclusive Rewards for Uphold Users
The Rewards Center program will provide significant benefits to RLUSD holders on Uphold, including:
- 5% Rewards on RLUSD holdings.
- Exclusive Cryptocurrency Insights for users.
- Early Access to New Tokens before public availability.
Rewards can be earned by completing tasks on the Uphold app, such as visiting the platform, depositing assets, or executing trades. Additionally, users who have unlocked all three levels in the Rewards Center will gain 24-hour early access to RLUSD before it becomes widely available.
According to McLoughlin, this initiative reflects Uphold’s commitment to enhancing user engagement and delivering tangible value to the XRP community.
Uphold’s Commitment to Transparency and Reliability
Serving customers in over 140 countries, Uphold is known for its focus on transparency. The platform publishes real-time updates on its reserves and liabilities every 30 seconds, ensuring trust and reliability in the rapidly evolving digital asset space.
With RLUSD’s launch and rewards integration, Ripple and Uphold are set to deliver greater value and utility to XRP investors, reinforcing the stablecoin’s pivotal role in modern digital finance.
