Uphold's Earn on XRP Feature Nears Launch with 1.6 Billion Tokens at Stake

The Uphold trading platform has confirmed that its 'Earn on XRP' feature is in the final stages of development. The feature will allow users to earn interest on their holdings, which currently total around 1.62 billion tokens. This represents a significant amount of XRP, making up 1.63% of all XRP in circulation worldwide.

The announcement was made by Uphold's Chief Product Officer, Paul Underwood, at the XRP Vegas conference and later repeated on Twitter. Underwood acknowledged that development had taken longer than planned but assured users that 'the wait is almost over' with details to be shared in the coming weeks.

To give users the opportunity to earn interest, Uphold has had to implement workarounds due to the XRP Ledger's limitations. This includes using DeFi lending protocols such as Exactly Protocol or wrapped tokens through its partner, Flare Network.