Uphold Launches XRP Staking through Flare Network Integration

Uphold, a cryptocurrency exchange platform, is introducing new XRP staking opportunities for its users. This innovative approach leverages the Flare network to provide a wrapped version of XRP tokens, enabling participation in decentralized finance (DeFi) applications. Users can deposit their XRP into Uphold’s system and receive FXRP, a synthetic token developed on the Flare blockchain. FXRP unlocks yield-generating opportunities within DeFi without requiring changes to the XRP protocol itself. Simon McLoughlin, CEO of Uphold, highlights the robust liquidity available on the Flare network as a key factor supporting this trial.