Uphold Brings Instant Crypto-Backed Loans Through Exactly DeFi Protocol

Uphold, a modern infrastructure provider for on-chain financial services, has introduced instant cash loans against crypto holdings through its Exactly DeFi Protocol. The service allows Uphold's retail customers in the U.S. to borrow against their cryptocurrency portfolio without selling any assets.

To access these loans, users can deposit Bitcoin (BTC), Ethereum (ETH), XRP, or USDC as collateral on the Exactly Protocol. Loans are available in minutes with no credit checks required, and repayment timelines are flexible, allowing users to defer the full loan, including interest, to a later date.

The new loan program offers competitive fixed-rate terms starting at 4.28% APR, and users can elect to convert their loan proceeds from USDC to USD at a 1:1 ratio with no spread for amounts up to $20,000 per calendar month.

According to Uphold's CEO, Simon McLoughlin, the service addresses the need for instant liquidity without forcing users to sell their assets. With the Exactly Protocol, customers can access the value of their crypto holdings to make everyday purchases or cover unexpected expenses.