Uphold Debit Card Features and Rewards
Uphold, a crypto wallet that supports XRP, has announced the launch of its debit card, which offers up to 6% XRP back on purchases made using fiat, stablecoins, and cryptocurrencies held within the Uphold platform. This new feature complements the existing direct deposit promotion, which provides 4% XRP back. Consequently, Uphold users can potentially earn up to 10% XRP back each month.
“We constantly talk to the XRP community and know their goal is to maximize XRP earnings,” said Simon McLoughlin, CEO of Uphold. “The Uphold Debit Card does that better than any other card in the market. Unlike competitors, our card gives users up to 6% XRP back on all everyday purchases, not just for specific categories. It delivers the best XRP rewards in the U.S.”
The Uphold Debit Card, initially revealed in May, is available starting today. Customers can sign up through the Uphold app to be among the first to receive the card. The card supports instant crypto-to-fiat conversions, allowing users to spend any digital asset they possess or directly use fiat currency.
“With the debit card plus direct deposit, Uphold users can earn up to 10% in XRP for doing what they do everyday – earning and spending money,” said McLoughlin.
Card Tiers and Promotional Period
Uphold is offering two tiers for its debit card: the Uphold Elite metal card and the Uphold Essential plastic card. The Elite Debit Card provides up to 6% XRP back, a premium metal design, no ATM or foreign transaction fees, and higher spending limits. The Essential Debit Card offers up to 4% XRP back and a standard card.
To qualify for the promotional rates of up to 6% and 4% XRP back on debit card purchases, Uphold Debit Card users must sign up before January 1, 2026. These rates will be valid for 90 days following the sign-up date, after which different rates will apply for the Elite and Essential Cards.
Card Issuance and Terms
The Uphold Debit Card is issued by Cross River Bank, a member of FDIC, under a license from Visa U.S.A. Inc. Users are subject to the Uphold Cardholder Agreement. The card promotion and rewards offer are subject to change, and promotional terms apply.
Under the XRP Rewards program, all Debit Card purchases earn 6% back on up to $5,000 worth of purchases, totaling a maximum of $300 USD worth of XRP, or 4% back on up to $3,000 in purchases, totaling a maximum of $120 USD worth of XRP per month. These calculations are made at the end of each calendar month. It is important to note that after the promotional period concludes, the XRP Rewards will be limited to 3% for the Elite Debit Card and 2% for the Essential Debit Card. The combined 10% XRP Rewards for Debit Card and Direct Deposit are available on a limited monthly value, dependent on qualifying Direct Deposit Promotional Limits and the type of Debit Card used.
About Uphold
Uphold is a financial technology company focused on the future of finance through on-chain services. It provides infrastructure for on-chain payments, banking, and investments, offering Consumer Services, Business Services, and Institutional Trading. Uphold aims to make pioneering financial services accessible and trustworthy for millions of customers globally in over 140 countries.
The platform integrates with more than 30 trading venues, including both centralized and decentralized exchanges, to ensure superior liquidity and optimal execution. Uphold maintains a policy of never loaning out or rehypothecating customer assets, ensuring 100% reservation. The company is known for its commitment to radical transparency, publishing its assets and liabilities every 30 seconds on its website.
Uphold is regulated in the U.S. by FinCEN and state regulators. It is also registered in the UK with the FCA and in Europe with the Financial Crime Investigation Service under the Ministry of the Interior of the Republic of Lithuania. More information about Uphold's products and services can be found at uphold.com.
Important Disclosures Regarding Rewards
Both Rewards Programs are exclusively offered by Uphold and not by Cross River Bank (CRB), the issuer of the Uphold Debit Card. The rewards are not deposits or obligations of CRB, are not guaranteed by CRB, and are not FDIC-insured. Funds deposited into the "Fiat Asset Account" (also referred to as the "USD account" on the Uphold Platform) are held at Cross River Bank, Member FDIC, and are insured up to $250,000. Uphold itself is not an FDIC-insured bank.
Deposit insurance covers the failure of an insured bank. FDIC insurance is provided on a pass-through basis at Cross River Bank, where Uphold has a direct relationship for the placement of deposits. This insurance is contingent upon certain conditions being met. Crucially, cryptocurrencies, precious metals, or other currencies held by Uphold are not held by Cross River Bank and therefore do not qualify for FDIC insurance.