Uphold, a digital money platform, announced the launch of its new debit card for UK customers that pays industry-best rates of up to 4% rewards in XRP. 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.[2]
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.
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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.
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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.[3] 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 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. Uphold provides retail, enterprise and institutional investors with easy access to cryptocurrencies, digital assets, national currencies, precious metals and U.S. equities.
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