Uphold trading platform, together with GlobaliD, a provider of digital identity solutions, will issue a Mastercard debit card with up to 5% XRP cashback.
As reported in an article on the GlobaliD blog, with this card, users will be able to pay with fiat or digital currency and receive cashback in XRP. They will have the option to spend the XRP they receive right away, or continue storing them in their digital wallets if users believe the XRP rate may rise in the future.
XRP Rewards will be credited to the GlobaliD Wallet address supported by Uphold. In addition, users will be able to deposit funds through this wallet, as well as send and receive various digital assets.
At the moment, the card is only available to US residents. However, residents of the states of Colorado, Hawaii, Louisiana, Nevada, New York and Virginia will not be able to participate in the program. Uphold CEO JP Thieriot said that in the future, residents of other countries will be able to use this card. The map was first announced in February and officially launched at the end of July, five months later.
“The XRP debit card will help the decentralized community make regular purchases and receive cryptocurrency rewards for doing so. XRP users are among the most active in the cryptocurrency sector and on our exchange, with a client base of over 5 million people, ”said Thiriot.
Mastercard recently partnered with Evolve, Paxos and Circle to facilitate the conversion of digital assets into fiat currencies. In the spring, the Gemini cryptocurrency exchange also announced the release of a credit card with cashback in any cryptocurrency available on the exchange.
