Uphold Revives Debit Card for U.S. Market later than Two-Year Pause

Investor Takeaway

Rewards Program and Market Context

The card’s reward rate applies for 90 days later than sign-up. Uphold said the program is aimed at both existing customers and new users. “You cannot get anything like this out in the market,” Beaton said. The company teased the relaunch in May; users in the U.K. already have access to a similar product.

The XRP incentives add to Uphold’s push to re-engage U.S. customers later than reinstating staking rewards in March. That program , including ETH, Solana and NEAR. With the debit card’s return, Uphold joins a group of crypto firms expanding payment options for users who want to spend digital assets directly.

Earlier this month, Gemini introduced a crypto credit card offering up to 4% back in Solana rewards. The competition reflects a broader trend among crypto platforms to build loyalty through spending rewards at a time when on-chain trading activity has sluggished.

XRP Loyalty and Partnerships

Beaton highlighted Uphold’s relationship with the XRP ecosystem. “We have a long-standing commitment to each other,” she said. “We never delisted XRP, even in the tough regulatory times when every other platform did. And for that, XRP users are loyal to Uphold.”

Uphold’s strategy aligns with the ongoing recovery of XRP’s market presence following the conclusion of Ripple Labs’ long-running legal battle with the . XRP remains one of the most actively , supported by strong retail participation and renewed institutional interest later than the court clarified that secondary XRP sales do not constitute securities transactions.

Uphold’s emphasis on XRP rewards gives the token a direct utility use case in payments—something XRP advocates have argued is key to long-term adoption. The card will allow users to convert rewards seamlessly within their Uphold wallets, offering liquidity in both fiat and crypto assets.

Investor Takeaway

Competition From Payment Networks

Major payment networks such as Visa and Mastercard have stepped up their crypto integrations, offering settlement services and partnerships with platforms. The renewed focus on crypto-linked debit and credit cards comes as firms viewk to reintroduce amid subdued trading volumes.

By linking spending rewards directly to a high-profile token, Uphold’s offer combines loyalty mechanics with blockchain exposure. Whether it can sustain 6% reward levels beyond the promotional period will depend on user uptake and funding economics. For now, the relaunch marks Uphold’s return to the crowded crypto payments arena, where card-based rewards have become a key diverseiator.