Uphold Offers Instant Crypto-Backed Loans Without Selling Assets
Uphold has launched instant cash loans against crypto holdings through its Exactly DeFi Protocol. The service allows U.S. customers to borrow against their Bitcoin, Ethereum, XRP, or USDC without selling any assets.
The loan amount is not capped, and users can defer the full loan, including interest, to a later date. There are no credit checks required, and repayment timelines are flexible with no early repayment penalties.
Uphold's CEO, Simon McLoughlin, stated that many people have significant wealth tied up in digital assets and may need quick access to cash without having to sell their holdings.
The service is likely to appeal to the 67 million Americans who own cryptocurrency, according to a recent study. Loans are offered through the Exactly Protocol and accessed in the Uphold app alongside the Exa Credit Card.