A leading U.S.-based exchange teases the imminent launch of XRP yield, potentially transforming XRP from a ‘hold only’ asset to one that earns interest for holders.
The crypto exchange confirmed the upcoming initiative yesterday in an X post. According to the announcement, Uphold is working on enabling XRP holders to earn yields on their holdings. This initiative serves as Uphold’s response to the rising demand for XRP yields on its platform.
Uphold Partners Flare Network for XRP Yields
Notably, Uphold partnered with Flare Network for the initiative, potentially tapping into the project’s smart contract ecosystem. Following the partnership, Uphold announced plans to test XRP staking through Flare’s FAssets.
🚨 JUST ANNOUNCED!
You asked, we listened.
Uphold is exploring ways to unlock yield on $XRP, including testing XRP staking through @FlareNetworks FAssets.
Welcome to the world of smart contracts and DeFi opportunities, #XRPArmy.
Stay tuned for the beta.#Ripple #Flare pic.twitter.com/1M33bohTDm
— Uphold (@UpholdInc) May 30, 2025
It is noteworthy that XRP does not have a native staking mechanism, unlike proof-of-stake (PoS) assets, such as Ethereum. The technology underpinning XRP, the XRP Ledger (XRPL), verifies transactions using a consensus protocol, prohibiting native staking on the network.
However, Flare, an EVM-compatible Layer-1 blockchain, currently supports XRP as one of its FAssets, enabling its integration into DeFi.
With this initiative, users can deposit their XRP in Flare’s staking contract and receive a wrapped version, FXRP. This wrapped XRP can then be staked via the Flare platform to earn yields.
Uphold is currently exploring this process to give users a way to earn yield on their XRP holdings. Per the X post, Uphold welcomed XRP community members to the “world of smart contracts and DeFi opportunities.”
Beta Launch Imminent
This suggests that XRP holders will soon gain direct access to decentralized finance tools, such as yield farming, through Uphold. Meanwhile, Uphold is still working on the product and has yet to schedule a date for its beta and mainnet launches.
However, it urged XRP community members to anticipate the beta release, which would allow them to test the upcoming yield functionality. Flare Network also issued a statement confirming its collaboration with Uphold to introduce XRP yields.
“With FAssets preparing for mainnet launch, this collaboration paves the way for XRPFi, bringing utility & DeFi access to Uphold’s active XRP community,” Flare remarked in a statement.
Uphold Launches 4% XRP Back on Direct Salary Deposits
Uphold has been a major proponent of XRP and has continued to support the token even during the peak of the SEC and Ripple lawsuit.
Yesterday, it launched a new feature, dubbed Direct Salary Deposit, allowing U.S.-based users to earn XRP rewards for receiving their salaries through the exchange.
According to the press statement, users who deposit $250 of their salary into their Uphold accounts will receive a 4% reward in XRP. The offering will officially kick off on June 2, 2025, and end on September 1, 2025.
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