Borrow Against XRP? Uphold’s December Move Hints at Major Shift

TLDR

• Uphold will launch digital asset-backed loans in December starting with a Florida rollout.
• The loan service will allow users to borrow against XRP, Bitcoin, Ethereum, and USDC.
• Borrowed funds can be spent instantly through a Visa credit card provided by Uphold.
• Customers will continue to earn yield on their XRP and other supported assets while borrowing.
• The lending process will be fully on-chain and powered by the Exactly Protocol integration.

Uphold has announced that it will introduce digital asset-backed loans in December, starting exclusively in Florida. The service will allow users to borrow against XRP, Bitcoin, Ethereum, and USDC, and spend the borrowed funds through a Visa card.

XRP Lending Debuts with On-Chain Capabilities

Uphold confirmed that users will soon be able to access loans backed by XRP through a fully on-chain process. This offering aims to simplify crypto-backed borrowing for mainstream users. Customers will also earn yield on XRP holdings through the same interface.

This development comes as Uphold integrates with the Exactly Protocol to power its on-chain lending operations. “We’re bringing real-world usability to crypto holders,” the company stated. The process promises no intermediaries and instant access to borrowed funds.

Uphold’s platform allows users to retain XRP ownership while unlocking liquidity for everyday use. The loaned amount will be made available via a Visa credit card. This enhances flexibility for users needing funds without selling their assets.

The new XRP loan feature is designed for simplicity, accessibility, and transparency. Uphold stated that the system will operate entirely on-chain for improved user control. The firm highlighted XRP as one of the initial assets it supports.

Bitcoin and Ethereum Backed for Borrowing

Along with XRP, Uphold will support Bitcoin and Ethereum as collateral for loans starting in December. The service is structured to benefit holders who want liquidity without having to sell. Borrowed funds will be accessible instantly using the integrated Visa card.

Users will continue to earn yield on both Bitcoin and Ethereum while borrowing. Uphold has confirmed that all assets will remain in the user’s custody on-chain. The rollout is designed to ensure quick access to funds while retaining asset exposure.

The platform aims to offer a consistent borrowing experience across supported digital assets. However, XRP remains central to the service’s first launch phase. The company anticipates that crypto-backed loans will become more user-friendly over time.

USDC Joins Supported Assets for Loan Access

USD Coin (USDC) will also be supported as collateral in Uphold’s new loan service. Customers will gain liquidity while keeping their USDC intact. Like XRP, this offers flexibility without triggering taxable events through asset sales.

Uphold stated that the process for USDC will be identical to that for XRP and other coins. Borrowers can use the Visa card immediately upon approval. Users also receive yield on USDC held in the protocol.

The service does not require off-chain approvals, keeping all transactions on the blockchain. This aligns with Uphold’s broader mission of enhancing decentralized finance tools. XRP, BTC, ETH, and USDC will all follow the same model.

The XRP loan service is set to launch in Florida in December. Uphold confirmed plans to expand to more U.S. states next year. The global rollout is scheduled for early 2026.

Chad Steingraber shared the news on X, highlighting the XRP lending feature. The crypto community welcomed the post, noting growing use cases for XRP. Uphold reiterated its commitment to secure and transparent lending.

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