- Uphold offers 4% cashback to UK XRP users, bolstering its utility and countering SEC’s stance.
- Cashback can reach £100 monthly without foreign fees, potentially driving XRP adoption and price rise.
- The New York DFS updated its virtual currency oversight regime, removing Ripple from its approved token list.
Uphold, the strategic partner of Ripple Labs Inc., has unveiled an enticing opportunity for XRP enthusiasts in the United Kingdom. UK customers can now enjoy a substantial 4% cashback on their daily XRP spending, a move set to fortify XRP’s utility as a digital currency. This initiative is a powerful rebuttal to the US Securities and Exchange Commission’s (SEC) claims that XRP is an investment security.
🇬🇧 Uphold's UK customers can get up to 4% cashback in XRP on day to day spending.— Uphold (@UpholdInc) September 19, 2023
Get up to £100 cashback per month paid in #XRP & no foreign fees anywhere in the world.
Learn about the Uphold Card: https://t.co/psOaHRvUdR pic.twitter.com/rIvfO47edS
The XRP community has eagerly awaited such a development, especially after the recent legal battle between Ripple and the SEC, which cast a shadow over XRP’s status. Uphold’s cashback offer reassures users that XRP is valuable for everyday transactions.
What’s more, Uphold promises that the cashback rewards can escalate to an impressive £100 per month, all without the burden of foreign transaction fees. This enticing incentive is poised to drive XRP adoption and potentially increase its price.
However, the crypto landscape has its challenges. The New York Department of Financial Services (DFS) revised its virtual currency oversight framework, removing Ripple and several other tokens from its approved list. This move adds further uncertainty to the regulatory environment surrounding cryptocurrencies.
In a crypto world characterized by constant regulatory shifts, Uphold’s cashback offer serves as a beacon of hope for XRP enthusiasts. At the time of writing, XRP is trading at $0.5101, with a 1.68% increase in the past 24 hours. Uphold’s cashback scheme could be the catalyst needed to propel XRP toward broader adoption and a more favorable market trajectory.