Uphold, a long-time partner of Ripple Labs, has introduced a new reward program to encourage XRP holders. They are offering a total of 20,000 XRP as a reward for users who trade with at least $20. Currently, the value of the reward pool is $11,152 based on the market price of XRP.
Uphold has been a consistent supporter of the XRP ecosystem and has stood by Ripple Labs during their legal battle with the SEC. This partnership has strengthened their relationship with the community.
This new reward pool is an addition to the 10,000 XRP reward campaign that was launched earlier this month. Uphold states that trading XRP alone is enough to be eligible for the reward, and users do not need to make an actual purchase.
The reward is available to all investors except those in restricted jurisdictions.
Uphold’s support for Ripple has been recognized, as they have been named as Ripple’s liquidity partner for cross-border transactions. This partnership includes prefunding accounts for businesses using Ripple’s payment and remittance solutions.
This partnership is a significant recognition for Uphold as an ambassador for Ripple. The clear legal status of XRP, as declared by the ruling that it is an unregistered security when traded on secondary marketplaces, makes the partnership and rewards program even more appealing.