Uphold adds support for Ripple’s XRP token
To celebrate the launch, for a limited time Uphold is offering no fees for the first five million XRP purchased.
Cloud-based financial services platform Uphold has responded to customer demands, announcing that members now have the ability to buy and sell Ripple’s XRP digital currency directly from their Uphold wallet.
Uphold frequently receives requests to support new currencies and XRP was a clear favorite among members. In a recent Twitter poll, the company asked which cryptocurrency should be added next. Of the more than 12,000 responses, Uphold’s Twitter followers overwhelmingly voted for Ripple’s XRP token.
— Uphold (@UpholdInc) March 20, 2018
“We have seen huge demand for XRP and Uphold is one of the first platform’s to make XRP easily accessible. Uphold was first with Bitcoin Cash and Bitcoin Gold, and we are again at the forefront of innovation in the cryptocurrency industry,” Uphold said in a statement on its wesbite’s blog.
To celebrate the launch, for a limited time Uphold is offering zero fees for the first five million XRP purchased.
Uphold members can convert XRP from any other supported currency within their Uphold wallet and hold XRP within their wallet. During the first phase of the launch, members will not be able to send XRP to external wallets or addresses. However, phase two will launch in the next few weeks, connecting Uphold to Ripple’s digital ledger, RippleNet, enabling full functionality and external deposits and withdrawals of the XRP token.
Ripple’s distributed ledger, RippleNet, provides real-time messaging, plus financial clearing and settlements. Ripple has already signed over 100 partners who utilize its RippleNet blockchain.
Uphold enables its users to convert, hold and transact in any form of money or commodity, including digital currencies, instantly. The service has facilitated more than $1 billion in transactions across 181 countries.
In late January, Uphold entered into a partnership with Greg Kidd, an investor in Ripple, Square, Coinbase and other crypto companies, to expand its loss assurance ratio for fund members. The deal increased the platform’s loss assurances to around 20% of its total crypto holdings. Additionally, Kidd’s investment vehicle, Hard Yaka, will fund the creation of Uphold Labs, a research and development unit providing business solutions.
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