The digital money platform Uphold has launched a new debit card for UK customers that the company claims – pays industry-best rates of up to 4% rewards in XRP.
Uphold is a digital money platform for consumers looking for a more versatile and cost-effective solution for their financial needs, with over 10 million customers in over 150 countries. The blockchain-based platform gives both consumers and businesses easy access to digital and national currencies, precious metals, and (in some jurisdictions) fractional U.S. equities. Customers can trade directly between asset classes using Uphold’s unique trading experience, ‘Anything-to-Anything,’ saving time and money.
According to the company, unlike other comparable cards, the Uphold Card will not charge non-sterling transaction fees making it ideal for travel and use overseas. A US version of the card will launch over the next week and will be fully available by the end of the month.
Rewards are accrued in GBP (UK) or USD (US) and paid in XRP, no transaction or membership fees at home or abroad.
Customers will simply convert their crypto, metals, fiat, or other assets to GBP or USD via the Uphold app. Then, the card enables seamless purchases from users’ accounts wherever MasterCard is welcome.
The card is available in digital form initially, with a physical card launching later this year that can be used for payments via point-of-sale terminals and to withdraw cash at MasterCard ATMs worldwide. The card features native support within Uphold’s existing wallet, and supports ApplePay and GooglePay.
In the first quarter of 2022, consumers spent more than $2.5 billion worth of cryptocurrency through crypto-linked cards.
Commenting on this, Simon McLoughlin, CEO of Uphold, said:
“We’re thrilled to offer the most competitive crypto rewards and zero non-sterling transaction fees for UK customers. Making crypto easy is what Uphold does best.”
“We want our customers to be able to easily spend the crypto in their accounts for purchases anywhere in the world and earn XRP rewards with every purchase, making Uphold a central point of their financial lives. That’s exactly what the Uphold Card delivers.”
Uphold mentioned that it was recently ranked Number 1 in the prestigious The San Francisco Business Times Fast 100 List of fastest-growing businesses in the SF Bay Area for 2022.
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