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Long-time Ripple Labs partner Uphold has announced a new reward scheme designed to incentivize XRP holders. Taking to its official X account, Uphold said a total of 20,000 XRP is up for grabs for users who conduct a trade with as little as $20. As of the time of writing, the 20,000 XRP reward pool is worth a total of $11,152, considering the market price of the coin is pegged at $0.5576.
Gamza KhanzadaevUphold historically supports the XRP ecosystem, and it ranks as one of the few firms that did not desert Ripple Labs in its close to three-year legal battle with the United States Securities and Exchange Commission (SEC). The faith the trading firm kept in Ripple and XRP is currently being bolstered by the mutual relationship it is maintaining with the community.
The current reward pool is a build-on to the 10,000 XRP reward campaign introduced earlier in the month. According to Uphold, only trading the digital currency is enough, adding that users do not need to make an actual purchase in order to be eligible.
The reward is accessible to all investors except those in restricted jurisdictions.
Uphold and Ripple partnership
As reported recently, Uphold's support for Ripple is highly recognized as the payment firm named it its liquidity partner in its cross-border transaction bids. This partnership entails, among other things, prefunding accounts for businesses utilizing Ripple cross-border payment and remittance solutions.
Alex DovbnyaThis partnership is at best an official recognition for Uphold as an ambassador for Ripple, a link-up that is deemed mutually beneficial for both firms. The fact that XRP's legal status is clear to all, per the ruling that declared it an unregistered security when traded on secondary marketplaces, makes the partnership with Uphold and its rewards campaigns more appealing in many areas.
Alex Dovbnya
Dan Burgin
U.Today Editorial Team
Vladislav Sopov